Dana Gode has just won the lottery and has been promised an annual - 14587

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yousafbhutta

yousafbhutta

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  • From: Business,
  • Posted on: Sat 27 Oct, 2012
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Request Description

 

Dana Gode has just won the lottery and has been promised an annual payment of $30,000 every year forever starting one year from today. If the annual interest rate is 8.9%, what is the present value of the winnings?
Answer
a. $337,078.65
b. $733,870.30
c. $778,490.24
d. $2,670.01

Solution Description

 

Dana Gode has just won the lottery and has been p