Business, 26.07.2019 05:20 pjgolden04
(present value) the state lottery's million-dollar payout provides for $3 million(s) to be paid over 19 years in 20 payments of $ 150 comma 000. the first $ 150 comma 000 payment is made immediately, and the 19 remaining $ 150 comma 000 payments occur at the end of each of the next 19 years. if 12 percent is the appropriate discount rate, what is the present value of this stream of cash flows? if 24 percent is the appropriate discount rate, what is the present value of the cash flows?
Answers: 2
![PV=\frac{Pmt[1-(1+i)^{-n}]}{i} *(1+i)](/tpl/images/0133/7865/289aa.png)
![PV = \frac{150,000[1-(1+0.12)^{-20} ]}{0.12} *(1.12) = $1,254,866.53](/tpl/images/0133/7865/bdeb8.png)
![PV= \frac{150,000[1-(1+0.24)^{-20} ]}{0.24} *(1.24) = $764,507.77](/tpl/images/0133/7865/a4e1d.png)
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(present value) the state lottery's million-dollar payout provides for $3 million(s) to be paid over...
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