Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume that you just won $30 million in the florid

Assume that you just won $30 million in the Florida lottery, and hence the state...

50.1K

Verified Solution

Question

Accounting

Assume that you just won $30 million in the Florida lottery, and hence the state will pay you 20 annual payments of $1.5 million at the end of each year. If the rate of return on securities of similar risk to the lottery earnings (e.g., the rate on 20-year U.S. Treasury bonds) is 6 percent, what is the present value of your winnings?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Please answer form 6-14 I. Consider the random experiment of rolling a pair of dice. Note: Write...

Electrical Engineering
1.2K views

Question, Digital Signal Processing: a)Explain in detail the difference between FIR filter and IIR filter with examples...

Basic Math
1.2K views

Use a cofunction to write an expression equal to sin 62 sin 62 0 in...

Basic Math
1.2K views

A box, with rectangular sides, base and top is to have a volume of 2...

Statistics
1.2K views

According to the records of a soft drink company, the bottles for their one-liter-sized products...

Accounting
1.2K views

Do some research and tell the class why horizontal and vertical analysis methods are used....

Accounting
1.2K views

Nancy and Daniel want to beginsaving toc thet boby college educrtion Thicy ectimhte that they...

Accounting
1.2K views

Presented below is the 2018 income statement and comparative balance sheet information for Tiger Enterprises...

Accounting
1.2K views

Chapter 05 Homework Help Save & Exit Submit Check my work Manchester Technology, Inc. manufactures...

Accounting
1.2K views

Windhoek Mines, Limited, of Namibia, is contemplating the purchase of equipment to exploit a mineral...

Accounting
1.2K views

Now assume that Rockers's sales are collected as follows: Rockers expects total sales of $700,500...

Finance
1.2K views

tart-up company can be on s(d)=d^(3)+5, what is sales per day on the