exc fi a 10 2) The prize in last week's Florida lottery was estimated to...
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exc fi a 10 2) The prize in last week's Florida lottery was estimated to be worth $31.25 million. If you were lucky enough to win, the state will pay you $1.25 million per year over the next 25 years. Assume the first installment is received immediately. a. If the interest rates are 8%, what is the present value of the prize? b. If the interest rates are 8%, what is the future value after 25 years? c. How would your answer change if the payments were made at the end of each year? of
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