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Category > Accounting Posted 18 May 2017 My Price 5.00

On January 1, 2010, you win $30,000,000 in the state lottery.

 

On January 1, 2010, you win $30,000,000 in the state lottery. The $30,000,000 prize will be paid in equal installments of $3,000,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31, 2010. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Appendix A.

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 18 May 2017 12:05 PM My Price 5.00

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Attachments

file 1495109131-Answer.docx preview (121 words )
O-----------n J-----------anu-----------ary----------- 1,----------- 20-----------10,----------- yo-----------u w-----------in -----------$30-----------,00-----------0,0-----------00 -----------in -----------the----------- st-----------ate----------- lo-----------tte-----------ry.----------- Th-----------e $-----------30,-----------000-----------,00-----------0 p-----------riz-----------e w-----------ill----------- be----------- pa-----------id -----------in -----------equ-----------al -----------ins-----------tal-----------lme-----------nts----------- of----------- $3-----------,00-----------0,0-----------00 -----------ove-----------r 1-----------0 y-----------ear-----------s. -----------The----------- pa-----------yme-----------nts----------- wi-----------ll -----------be -----------mad-----------e o-----------n D-----------ece-----------mbe-----------r 3-----------1 o-----------f e-----------ach----------- ye-----------ar,----------- be-----------gin-----------nin-----------g o-----------n D-----------ece-----------mbe-----------r 3-----------1, -----------201-----------0. -----------If -----------the----------- cu-----------rre-----------nt -----------int-----------ere-----------st -----------rat-----------e i-----------s 7-----------%, -----------det-----------erm-----------ine----------- th-----------e p-----------res-----------ent----------- va-----------lue----------- of----------- yo-----------ur -----------win-----------nin-----------gs.----------- Us-----------e t-----------he -----------pre-----------sen-----------t v-----------alu-----------e t-----------abl-----------es -----------in -----------App-----------end-----------ix -----------A. ----------- Ja-----------n 2-----------6 2-----------013----------- 12-----------:02----------- AM----------- A-----------nsw-----------er ----------- Ye-----------ar -----------Pai-----------d e-----------ach----------- ye-----------ar -----------($)----------- Pr-----------ese-----------nt -----------Val-----------ue
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