You have just received notification that you have won $5 million lottery. However, your price will...

Transcribed Image Text:

You have just received notification that you have won $5 million lottery. However, your price will be awarded on your 60th birthday, 40 years from now. What is the present value of this future windfall assuming a discount rate of 4%? You have just received notification that you have won $5 million lottery. However, your price will be awarded on your 60th birthday, 40 years from now. What is the present value of this future windfall assuming a discount rate of 4%?