You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 78 years from now. What is the present value of your windfall if the appropriate discount rate is 10 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize will be ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Jim was a crook. He embezzled $450,000 from his employer. When his employer found out about his misdeeds, before even conducting a thorough investigation, he went and gave all the details to a local newspaper agency.
Answers (1)
A client is having difficulty finding a career that is fulfilling to her. She has repeatedly taken jobs that she has quit because "they just don't fit.
Answers (1)
Which of the following is something a company could do to foster bonding and affective commitment? Multiple Choice add dental coverage to its health insurance package offer incentives to the team with the highest sales offer college reimbursement
Answers (1)
Poppy Co. uses a periodic inventory system. Beginning inventory on January 1 was understated by $30,000, and its ending inventory on December 31 was understated by $17,000.
Answers (1)
Which of the following is correct? a. U. S. exports as a percentage of GDP have about tripled since 1950. The U. S. currently has a trade deficit. b. U. S. exports as a percentage of GDP have about doubled since 1950. The U. S.
Answers (1)
New Questions in Business
When observing your customers for signs of intoxication, you don't need to consider how they look or act upon entering your establishment because you are not responsible for what they did before they arrived.
Answers (1)
Is there anything that you find particularly impressive about southwest airlines?
Answers (1)
All of the following are true of the effect of fair value accounting on the financial statements except a. changes in the fair value of trading securities are recognized on the income statement b.
Answers (1)
Are morality & ethics the same thing?
Answers (1)
Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 not due for three years. The interest rate on the note is 7%.
Answers (1)