The $ 174,542,781 lottery that you just won actually pays ($ 174,542,781 divided by 30) per year for 30 years. If the discount rate is 8 percent, and the first payment comes in 1 year, what is the present value of the winnings?
Added by Natalia A.
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So, the annual payment would be $174,542,781 divided by 30, which is $5,818,092.70. Show more…
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