Chris won a lottery that will pay him $510000 at the end of each of...

80.2K

Verified Solution

Question

Accounting

image
Chris won a lottery that will pay him $510000 at the end of each of the next twenty years. Assuming an interest rate is 8% compounded annually, what is the present value of this amount? $109421 $5407837 $23338600 $5007257

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