Suppose a state lottery prize of $8 million is to be paid in 5 payments of $1,600,000 each at the end of each of the next 5 years. If money is worth 12%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose a state lottery prize of $8 million is to be paid in 5 payments of $1,600,000 each at the end of each of the next 5 years. If money ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
1. The common stock of Textile Mills pays an annual dividend of $1.65 a share. The company has promised to maintain a constant dividend even though economic times are tough.
Answers (1)
Solution Enterprises incurred $828,000 of fixed overhead during the period. During that same period, the company applied $845,000 of fixed overhead to production and reported an unfavorable budget variance of $41,000.
Answers (1)
A person's total "net worth" =
Answers (1)
True or false: the barons were not expected to pay higher taxes.
Answers (1)
On December 28, 2021, Videotech Corporation (VTC) purchased 15 units of a new satellite uplink system from Tristar Communications for $26,000 each. The terms of each sale were 1/10, n/30.
Answers (1)
New Questions in Business
Rst company produces a product that has a variable cost of $6 per unit. the company's fixed costs are $30,000. the product sells for $10 per unit. rst desires to earn a profit of $20,000. the sales level in units to achieve the desire profit is
Answers (1)
Navajo Corporation traded a used truck (cost $25,000, accumulated depreciation $22,500) for a small computer worth $4,125. Navajo also paid $625 in the transaction.
Answers (1)
Have you received a conditional certification from the state workforce agency (swa) or a participating local agency for the work opportunity credit?
Answers (1)
On the Navigation Bar, which of the following would you select to enter inventory item maintenance information? 1.
Answers (1)
The balance in Accounts Receivable at the beginning of the period amounted to $2,100. During the period $6,500 of credit sales were made to customers, and uncollectible accounts expense amounted to $410.
Answers (1)