5.24 Page 152 Assume you won a worldwide lottery that pays $5 millior in year 0, $5 million in year 1, and $200,000 in years 5 through 100. Assuming that 100 years is as "long" as infinity, calculate the perpetual equivalent annual worth for years 1 through infinity at an interest rate of 10% per year.
5.24 Page 152 Assume you won a worldwide lottery that pays $5 millior in year 0, $5 million in year 1, and $200,000 in years 5 through 100. Assuming that 100 years is as "long" as infinity, calculate the perpetual equivalent annual worth for years 1 through infinity at an interest rate of 10% per year.
Chapter1: Making Economics Decisions
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![5.24 Page 152Assume you won a worldwide lottery that pays $5 million
in year 0, $5 million in year 1, and $200,000 in years 5 through 100.
Assuming that 100 years is as "long" as infinity, calculate the perpetual
equivalent annual worth for years 1 through infinity at an interest rate of
10% per year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2b5a4dc-1274-4bc6-8d76-dc86f9a9fcf8%2F485f0215-7881-43c9-a727-cbb3aa635fde%2Fp7mrpw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5.24 Page 152Assume you won a worldwide lottery that pays $5 million
in year 0, $5 million in year 1, and $200,000 in years 5 through 100.
Assuming that 100 years is as "long" as infinity, calculate the perpetual
equivalent annual worth for years 1 through infinity at an interest rate of
10% per year.
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