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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Jim and Elsie are saving for their granddaughter Amy’s college education. Amy just turned 12 (at t...

Finance
Q

1.A soccer ball manufacturer wants to estimate the mean circumference of soccer balls within 0.05 in....

Basic Math
Q

The rhodopsin pathway in rod cells is used for visual signaling. Describe the steps involved in signal...

Medical Sciences
Q

1. Discuss how gastrointestinal pathogens bypass the immune system within the GI- 2. What are enterotoxins and...

Medical Sciences
Q

What were the main social, political, and economic factors in the early nineteenth century that encouraged...

Psychology
Q

1-If two countries choose to fix the exchange rates among their currencies, then Select one: A....

Economics
Q

Mimi can run around a quarter-mile track in 150 seconds. Judy can run around the same...

Basic Math
Q

A source of frequency 1800 Hz is moving on line with speed 30 m s...

Physics
Q

Leo is making lemonade. He puts the juice from 6 lemons into 2 liters of...

Basic Math
Q

Listed below are the top 10 annual salaries in millions of dollars of TV personalities...

Algebra
Q

Bed & Bath, a retailing company, has two departmentsHardware and Linens. The company's most recent...

Accounting
Q

Delta Company produces a single product. The cost of producing and selling a single unit...

Accounting