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# Suppose you have won a competition and that you are given the choice between $180000 now or $10000 at the start of each year, for the rest of your life. Assume that the bank has a constant interest rate of

Suppose you have won a competition and that you are given the choice between $180000 now or $10000 at the start of each year, for the rest of your life. Assume that the bank has a constant interest rate of 6% and that you currently have no debts (so that your decision is a purely rational one, based on "present value").

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## a Besent value of 10 000 per year for next 45 ye View the full answer

**Related Book For**

## Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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