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shepherd shepherd
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Posts: 2986
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8 years ago
The state lottery has just informed you that you have won $1 million to be paid out in the amount of $50,000 per year for the next 20 years. With a discount rate of 12%, what is the present value of your winnings?
A) $392,150      B) $221,950      C) $398,150      D) $373,450
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Personal Finance

Personal Finance


Edition: 5th
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tityltityl
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#1
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8 years ago
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shepherd Author
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#2
8 years ago
You really helped me with my business course, thank you!
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#3
8 years ago
Cool! Remember to mark it solved when you get a chance
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