Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. how much is the $5 million lottery worth which sta

How much is the $5 million lottery worth which starts at the end of year...

90.2K

Verified Solution

Question

Finance

How much is the $5 million lottery worth which starts at the end of year 5, and pays $1 million a year for 5 years at r=4%.

A. $3,545,951

B. $3,650,073

C. $4,451,822

D. $3,805,436

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

A researcher wishes to? estimate, with 95?% ?confidence, the population proportion of adults who are confident...

Basic Math
1.2K views

Use reference angles and symmetry on the unit circle to find the exact value of each...

Physics
1.2K views

How can we keep a penny standing on its edge in a stable manner? Explain Does it...

Advance Math
1.2K views

Find the intersection point (if any) of the lines r1(t)=(17,54,?22)+t(?3,?8,3)r1(t)=(17,54,?22)+t(?3,?8,3) and r2(s)=(?67,?50,37)+s(12,8,?7)r2(s)=(?67,?50,37)+s(12,8,?7). Please show full working/steps to help...

Accounting
1.2K views

What is the importance of having an effective compliance and ethics program with respect to the...

Basic Math
1.2K views

5 OA The line falls from left to right OB The line is horizontal OC...

Calculus
1.2K views

Find the derivative of 6 sin 2x Hint sin x sin x so use the...

Accounting
1.2K views

Required information Exercise 11-3...

Accounting
1.2K views

1. Journalize the following entries using the allowance method of accounting for uncollectible receivables: a....

Accounting
1.2K views

A portion of the stockholders' equity section from the balance sheet of Walland Corporation appears...

Accounting
1.2K views

Bed & Bath, a retailing company, has two departments, Hardware and Linens. The company

Accounting
1.2K views

1. Compute the value of the inventory using the FIFO and IFRS 2....