You just won the grand prize in the Alabama State Lottery and were told that your...
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You just won the grand prize in the Alabama State Lottery and were told that your $2,350,500 prize was to be paid out to you over the next 15 years in annual payments of $156,700 per year. Assuming a cost of capital of 4% what is the actual present value of your winnings. Round your answer to the nearest $1. You just won the grand prize in the Alabama State Lottery and were told that your $2,350,500 prize was to be paid out to you over the next 15 years in annual payments of $156,700 per year. Assuming a cost of capital of 4% what is the actual present value of your winnings. Round your answer to the nearest $1.
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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