A lottery claims its grand prize is $5 million, payable over 5 years at $1,000,000 per year. If the first payment is mad
Posted: Sun Jul 03, 2022 1:01 pm
A lottery claims its grand prize is $5 million, payable over 5years at $1,000,000 per year. If the first payment is madeimmediately, what is this grand prize really worth? Use an interestrate of 2%.