Suppose you have won a lottery that pays $69,752 per month for the next 29 years. But, you prefer to have the entire amo

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899604
Joined: Mon Aug 02, 2021 8:13 am

Suppose you have won a lottery that pays $69,752 per month for the next 29 years. But, you prefer to have the entire amo

Post by answerhappygod »

Suppose You Have Won A Lottery That Pays 69 752 Per Month For The Next 29 Years But You Prefer To Have The Entire Amo 1
Suppose You Have Won A Lottery That Pays 69 752 Per Month For The Next 29 Years But You Prefer To Have The Entire Amo 1 (9.42 KiB) Viewed 38 times
Suppose you have won a lottery that pays $69,752 per month for the next 29 years. But, you prefer to have the entire amount now. If a company will purchase your annuity at 11.8% interest compounded monthly, how much will they offer you?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”