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
Regrading business strategy, which one of the following items drives the other three items? A) Competitive Strategy B) Competitive forces C) Competitive Advantages D) Competitive Scope
Answers (1)
If import restrictions prohibit foreigners from selling various goods and services in the U. S. market, a. the U. S. will be able to export more goods abroad. b. foreigners will have fewer U. S. dollars with which to buy U. S. goods and services. c.
Answers (1)
On September 1, 2021, Daylight Donuts signed a $170,000, 9%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2022.
Answers (1)
During a recent brainstorming session, one of Franklin's co-workers suggested that their company could sell some of the data contained in its customer databases to earn extra revenue for the business.
Answers (1)
Using $3040000 as the cost of goods manufactured, compute the cost of goods sold using the following information Raw materials inventory, January 1 $ 20000 Raw materials inventory, December 31 40000 Work in process, January 1 18000 Work in process,
Answers (1)
New Questions in Business
The equation represents Jordan's overtime pay structure. Based on this equation, what is Jordan's regular hourly pay?
Answers (2)
A concurrent condition occurs when each party's performance is conditioned on the performance of the other.
Answers (1)
Transactional leadership encompasses all but one of the following. Which one? A. Goal settingB. Social interactionC. Monitoring progress toward goal achievementD. Giving feedbackE. Administering discipline
Answers (1)
Average fixed costs for a given level of output can be determined graphically by: A. summing the marginal costs of any number of units of output and dividing the sum by that output. B. the vertical distance between TC and TVC. C.
Answers (1)
Ed moura has 60000 invested in stocks paying 7%. how much additional money should he invest in certificates of deposit paying 3% so that the average retrun on the two investments is 4%.
Answers (1)