The state lotterys million-dollar payout provides for 1, Ask an Expert

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The state lottery's million-dollar payout provides for $1 million to be paid in 25 installments of $40,000 per payment. The first $40,000 payment is made immediately, and the 24 remaining exist40,000 payments occur at the end of each of the next 24 years. If 7 percent is the discount rate, what is the present value of this stream of cash flows? If 14 percent is the discount rate, what is the present value of the cash flows?

a. If 7 percent is the discount rate, the present value of the annuity due is exist. (Round to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92393825

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