You and 11 coworkers just won $14 million ($1, 166,666.67 each) from the state lottery. Assuming you each receive your share over 18 years and that the state lottery earns a 3 percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option?
You and 11 coworkers just won $14 million ($1, 166,666.67 each) from the state lottery. Assuming you each receive your share over 18 years and that the state lottery earns a 3 percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option?
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Transcribed Image Text:You and 11 coworkers just won $14 million ($1, 166, 666.67 each) from the state lottery. Assuming you each receive your share over 18 years and that the state lottery earns a 3 percent return on its
funds, what is the present value of your prize before taxes if you request the 'up - front cash' option?
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