3. You won the lottery! You are considering whether or not to accept a lump sum amount or an annual annuity of $ 79,944 to be received at the end of every year for twelve years. Use 6% as the annual discount rate. How much is the stream of payments worth now? Round your answer to the nearest whole number.
3. You won the lottery! You are considering whether or not to accept a lump sum amount or an annual annuity of $ 79,944 to be received at the end of every year for twelve years. Use 6% as the annual discount rate. How much is the stream of payments worth now? Round your answer to the nearest whole number.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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3. You won the lottery! You are considering whether or not to accept a lump sum amount or an annual
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