You just won the $66 million lottery. You will receive $2.3 million a year for the next

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You just won the $66 million lottery. You will receive $2.3 million a year for the next 25 years plus an additional payment of $8.5 million at the end of 25 years. The interest rate is 11 percent. How much is your lottery prize worth today?

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Mar 12, 2024 03:43 AM

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You just won the $66 million lottery. You will receive $2.3 million a year for the next

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To determine the present value of the lottery prize we need to calculate the present value of the an... View the full answer

Microeconomics An Intuitive Approach with Calculus

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