Question

You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 79 years from now. What is the present value of your windfall if the appropriate discount rate is 8 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Name: you have just received notification that you have won the 2 million first prize in the centennial lottery however the prize will be awarded on your 100th birthday assuming youre around to co 07744
Uploaded: 2022-04-11T07:07:35-08:00
Duration: 3 min 11 s
Channel: Maitreya E
Description: you have just received notification that you have won the 2 million first prize in the centennial lottery however the prize will be awarded on your 100th birthday assuming youre around to co 07744

          You have just received notification that you have won the $2
million first prize in the Centennial Lottery. However, the prize
will be awarded on your 100th birthday (assuming you’re around to
collect), 79 years from now.
  
What is the present value of your windfall if the appropriate
discount rate is 8 percent? (Do not round intermediate
calculations and round your answer to 2 decimal places, e.g.,
32.16.)

Added by Ryan P.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Maitreya E

04/11/2022

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You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 79 years from now. What is the present value of your windfall if the appropriate discount rate is 8 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)