You have just been notified that you have won the $2 million lottery! The prize will...
You have just been notified that you have won the $2 million
lottery! The prize will be awarded on
your 100th birthday which is 80 years from now. If the current
discount rate is 5%, what is the present
value of your windfall? Show your work.
Homework Answers
Present value of inflows=cash inflow*Present value of discounting factor(rate%,time period)
=2/1.05^80
=2*0.0201769759
=$0.04 million(or $40353.95 approx).
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