A lottery winner will receive $1 million at the end of each of the next twelve years. What is the future value​ (FV) of her winnings at the time of her final​ payment, given that the interest rate is 8.1​% per​ year?   A. $19.09   million   B. $30.54 million   C. $26.73 million   D. $15.27 million

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
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A lottery winner will receive
$1
million at the end of each of the next
twelve
years. What is the future value​ (FV) of her winnings at the time of her final​ payment, given that the interest rate is
8.1​%
per​ year?
 
A.
$19.09  
million
 
B.
$30.54
million
 
C.
$26.73
million
 
D.
$15.27
million
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