Today you won a small sweepstakes prize. Your winnings will be split into 12 monthly payments of

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Today you won a small sweepstakes prize. Your winnings will be split into 12 monthly payments of $2,000 starting from today. If the annual rate of return you can get at your bank is 3% (i.e. monthly return is 3%/12).

What is the present value of your winnings?

Related Book For answer-question

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

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Posted Date: Jun 12, 2023 07:29 AM

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Today you won a small sweepstakes prize. Your winnings will be split into 12 monthly payments of

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Given information Monthly payment 2000 Annual interest rate 3 003 monthly rate 00312 Using the fo... View the full answer

Contemporary Engineering Economics

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