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QueenPinky QueenPinky
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5 years ago
Suppose you hit a progressive jackpot on a 25-cent Fortunemaker slot machine in a casino in Las Vegas and are given the choice of the following prizes:

Prize 1: $200,000 to be received right away, with four additional payments of $200,000 to be received each year for the next four years.

Prize 2: $750,000 to be received right away.

If the interest rate is 3 percent, what is the present value of each prize?
Textbook 
InMacro

InMacro


Edition: 1st
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amtw222amtw222
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5 years ago
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5 years ago
this is exactly what I needed
mmmm_dat_userna
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You make an excellent tutor!
Mcb
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This site is awesome
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