You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 67 years from now. What is the present value of your windfall if the appropriate discount rate is 9 percent?

Answer rating: 100% (QA)

Amount of Windfall 2000000 Discount ... View the full answer