1. Business
  2. Finance
  3. you have just received notification that you have won the...

Question: you have just received notification that you have won the...

Question details

You have just received notification that you have won the $1 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 71 years from now.

  

What is the present value of your windfall if the appropriate discount rate is 9 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

  

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution