Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you have just received notification that you have

You have just received notification that you have won the $2.13 million first prize in...

50.1K

Verified Solution

Question

Finance

image
You have just received notification that you have won the $2.13 million first prize in the Power Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 67 years from now. What is the present value of your windfall if the appropriate discount rate is 10 percent? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Present value

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

Mechanical Engineering
1.2K views

What is components? What is phases? What is tie line?

Biology
1.2K views

How would you describe streptococci O cluster of circles Ochain of circles Ochain of spirals

Physics
1.2K views

Hint P I R Ans 100 2 0 146 H 33 A sinusoidal voltage V...

Geometry
1.2K views

Question 4 25 points A pyramid with a regular hexagon base is shown Each side...

Basic Math
1.2K views

(a) Suppose an analog clock strikes 6:00. How many degrees separate the hour hand from...

Basic Math
1.2K views

The data in a data set are normally distributed with a mean of 190 and...

Basic Math
1.2K views

Find the point on the line 3x + y + 4 = 0 which is...

Accounting
1.2K views

Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials...

Accounting
1.2K views

Flynn Company issued 4,000 shares of $10 par value common stock at a market price...

Accounting
1.2K views

The records at the end of January of the current year for Young Company showed...

Accounting
1.2K views

Crystal Huggins is an executive in Bonwire Company and was paid $149,000 in 2019. Calculate...

Finance
1.2K views

If the benchmark duration is 5, what duration are you targeting in rising rate environment?...