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Category > Accounting Posted 19 Aug 2017 My Price 4.00

Present value of an annuity

Ex 12-19  Present value of an annuity

On January 1, 2016, you win $50,000,000 in the state lottery. The $50,000,000 prize will be paid in equal installments of $6,250,000 over eight years. The payments will be made on December 31 of each year, beginning on December 31, 2016. If the current interest rate is 5%, determine the present value of your winnings. Use the present value tables in Appendix A.

 

 

 

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Status NEW Posted 19 Aug 2017 10:08 PM My Price 4.00

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