In which city did the authors of social disorganization theory conduct their research?
2 answers:
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Answer:
Present value = $6404.20
Explanation:
Data provided in the question :
Amount of the Centennial lottery prize won = $1.4 million = $1,400,000
Time after which the amount will be received, n = 70 years
Discount rate, r = 8%
Now,
the present values is given as:
on substituting the respective values, we get
or
Present value = $6404.20