You just won the $62 million lottery. You will receive $1.9 million a year for the...
You just won the $62
million lottery. You will receive $1.9 million a year for the next
25 years plus an additional payment of $14.5 million at the end of
25 years. The interest rate is 13 percent.
How much is your
lottery prize worth today? (Enter your answer as a positive
number rounded to 2 decimal places.)
Homework Answers
Lottery prize worth today is:-.
=PV(rate,nper,pv,fv)
=PV(13%,25,1.9,14.5)
=14.61
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