question archive A lottery claims its grand prize is $25 million, payable over five years at $5,000,000 per year
A lottery claims its grand prize is $25 million, payable over five years at $5,000,000 per year
Subject:FinancePrice:2.86 Bought9
A lottery claims its grand prize is $25 million, payable over five years at $5,000,000 per year. If the first payment is made immediately, and the next 4 payments at the end of year 1, year 2, year 3 and year 4, what is this grand prize really worth? Use an interest rate of 8%.
Option 1
Low Cost Option
Download this past answer in few clicks
2.86 USD
PURCHASE SOLUTION
Option 2
Custom new solution created by our subject matter experts
GET A QUOTE
rated 5 stars
Purchased 9 times
