Appendix EX 14-19 Present value of an annuity On January 1, you win $60,000,000 in the state lottery. The $60,000,000 prize will be paid in equal installments of $6,000,000 over 10 years. The payments will be made on Decem- ber 31 of each year, beginning on December 31 of the current year. If the current interest rate is 6%, determine the present value of your winnings. Use the present value tables in Appendix A. 1 or not ours lasiski brod art onnanstol d
Appendix EX 14-19 Present value of an annuity On January 1, you win $60,000,000 in the state lottery. The $60,000,000 prize will be paid in equal installments of $6,000,000 over 10 years. The payments will be made on Decem- ber 31 of each year, beginning on December 31 of the current year. If the current interest rate is 6%, determine the present value of your winnings. Use the present value tables in Appendix A. 1 or not ours lasiski brod art onnanstol d
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
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Transcribed Image Text:Appendix 1
30qre 13579
brodhorit onmoto d
EX 14-19 Present value of an annuity
niztos J
On January 1, you win $60,000,000 in the state lottery. The $60,000,000 prize will be paid
in equal installments of $6,000,000 over 10 years. The payments will be made on Decem-
ber 31 of each year, beginning on December 31 of the current year. If the current interest
rate is 6%, determine the present value of your winnings. Use the present value tables in
Appendix A.
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