You have just won the lottery and will receive $480,000 in one year. You will receive payments
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Question:
You have just won the lottery and will receive $480,000 in one year. You will receive payments for 29 years, which will increase 5 percent per year. The appropriate discount rate is 11 percent. |
Required:
What is the present value of your winnings? |
$23,274
$32,083,598
$6,147,204
$32,083,598
$6,403,337
Related Book For
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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