Question 9 8) You won $150 000.00 in a lottery and you want to set some of that sum of money aside for 6 years. After 6 years you would like to receive $2710.00 at the end of every 6 months for 8 years. If interest is 6% compounded quarterly, how much of your winnings must you set aside? - $21 771.98 O-s24 771.98 -$22 771.98 O- s23 771.00 $23 771.98
Question 9 8) You won $150 000.00 in a lottery and you want to set some of that sum of money aside for 6 years. After 6 years you would like to receive $2710.00 at the end of every 6 months for 8 years. If interest is 6% compounded quarterly, how much of your winnings must you set aside? - $21 771.98 O-s24 771.98 -$22 771.98 O- s23 771.00 $23 771.98
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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Transcribed Image Text:Question 9
8) You won $150 000.00 in a lottery and you want to set some of that sum of money aside for 6 years. After
6 years you would like to receive $2710.00 at the end of every 6 months for 8 years. If interest is 6%
compounded quarterly, how much of your winnings must you set aside?
O-$21 771.98
O- s24 771.98
-$22 771.98
O-s23 771.00
$23 771.98
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