Carol Garcia, a lottery winner, will receive the following payments over the next seven years....
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Carol Garcia, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay her a lump sum today for the rights to those future cash flows. If she can invest her cash flows in a fund that will earn 11.40 percent annually, how much should Carol require the investor to pay for the cash flows? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)
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Carol Garcia, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay her a lump sum today for the rights to those future cash flows. If she can invest her cash flows in a fund that will earn 11.40 percent annually, how much should Carol require the investor to pay for the cash flows? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) 