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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
John-Paul Ramin won $2.3 million in state lottery. He was surprised to learn that he will not receive a check for $2.3 million. Rather, for twenty years, he will recieve an annual check from the state for 1/20 of his winnings. The state finances this series of checks by buying John-Paul a payout annuity. Find what the state pay for John-Paul's payout annuity if the interest rate is 7.2%.
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