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Stacey Trail has just won the Lotto. Her prize pays $40,000 at the end of each year for 5 years. In ...

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Stacey Trail has just won the Lotto. Her prize pays $40,000 at the end of each year for 5 years. In ...

Stacey Trail has just won the Lotto. Her prize pays $40,000 at the end of each year for 5 years. In addition, she will receive a one-time payment of $240,000 at the end of 5 years. Using the following factors at 10%, what amount has Stacey really won in the Lotto?

Type of Cash Flow

Periods

Interest Rate

Factor

PV of $1	5	10%	0.6209
FV of $1	5	10%	1.6105
PV ordinary annuity	5	10%	3.7908
FV ordinary annuity	5	10%	6.1051
PV annuity due	5	10%	4.1699

▸ $300,653

▸ $484,204

▸ $440,000

▸ $553,317

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Managerial Accounting

Edition: 4^th

Author: Davis

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