Business, 20.12.2019 21:31 lilsneak13
The $36.0 million lottery payment that you have just won actually pays $2.4 million per year for 15 years. the interest rate is 9%.
a. if the first payment comes in 1 year, what is the present value of the winnings? (do not round intermediate calculations. enter your answer in dollars, not millions, rounded to 2 decimal places.)
b. what is the present value if the first payment comes immediately? (do not round intermediate calculations. enter your answer in dollars, not millions, rounded to 2 decimal places.)
Answers: 3
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The $36.0 million lottery payment that you have just won actually pays $2.4 million per year for 15...
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