Darshak won a 1000000 lottery which will pay 5000 at the, Ask an Expert

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Darshak won a $1,000,000 lottery which will pay $5,000 at the beginning of each month for the next 30 years.

(a) If the payments were made at the beginning of each year for the next 30 years rather than at the beginning of each month, how much would the annual payments be?

(b) If the payments were made continuously, how much would be paid each month?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91535702

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