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il63 [147K]
3 years ago
10

Suppose that you won a lawsuit and were awarded a series of payments of $10,000 a year for 10 years. Assuming an interest rate o

f 7%, how much would get in a lump-sum payment today?
Business
1 answer:
DochEvi [55]3 years ago
4 0
Okay. So it's $10,000 per year, which is $100,000 in 10 years. I'm not so sure how to solve it exactly, but I found a lump sum calculator online. I put the information on that and according to the calculator, today's payment in a lump sum would be $50,894.93. The future value is $100,000 with 10 periods (in this case, years) of the interest rate of 7% once per year. I think that the answer is $50,894.93.
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