you just won the grand prize in a national writing contest as your prize you will...

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you just won the grand prize in a national writing contest as your prize you will...

you just won the grand prize in a national writing contest as your prize you will receive $2,000 a month for 10 years if you can earn 7% on your money what is this prize worth to you today

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Answer 1

Answer #1

PVA = $2,000 × [(1 – {1 / [1 + (.07/ 12)]^{(10 × 12)}}) / (.07 / 12)]

PVA = $172,252.71

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Answer 2

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