1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
statuscvo [17]
3 years ago
9

Suppose a state lottery prize of $8 million is to be paid in 5 payments of $1,600,000 each at the end of each of the next 5 year

s. If money is worth 12%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.)
Business
1 answer:
slavikrds [6]3 years ago
7 0

Answer:

The answer is $5767641.92

Explanation:

PV of an Annuity = C x [ (1 – (1+i)-n) / i ]

PV of an Annuity = $1,600,000  x [ (1 – (1+0.12)-5) /0.12 ] = $5767641.92

The present value of the prize is $5767641.92

You might be interested in
You have just been promoted to manage a team of production specialists at work. You soon realize that many of the employees seem
Svetradugi [14.3K]

Answer:

Option (A) the ability of the group to stick together

Explanation:

The team is defined as the group of individual who work together to get a specified task done.

Here,

The workers seems to have withdrawn from the work and team that means, the group of members are not behaving as a team.

Therefore, it is needed for the manager of the team to make them stick together as a team so as to get the production better.

7 0
3 years ago
After you send in your FAFSA form, what will you receive back
goldenfox [79]
<span>After you submit the Free Application for Federal Student Aid (FAFSA), you will be sent a Student Aid Report (SAR). If they have a valid e-mail address on file for you, they will send you an e-mail, within 3 to 5 days, with instructions on how to access an online copy of your SAR.</span>
8 0
3 years ago
The bond has a coupon rate of 6.83 percent, it makes semiannual payments, and there are 4 months to the next coupon payment. A c
Kipish [7]

Answer:

The invoice price for the bond is $1,060.38

Explanation:

Given the following:

PV= Par value = $1,000 ,

CV= Clean Price = $1,049

Coupon Rate per annum = 6.83%

To calculate the Semiannual Coupon Rate= Coupon Rate per annum/2= 3.415%

To calculate Semiannual Coupon= Semiannual Coupon Rate*PV

= 3.415% * $1,000  = $34.15

With an interest accured over 2 months, we calculate it thus:

Accrued Interest = $34.15 * 2/6 = $11.38

To calculate Invoice price:

Invoice Price = CP + Accrued Interest

Invoice Price = $1,049.00 + $11.38

Invoice Price = $1,060.38

3 0
2 years ago
How can firms ensure that their code of business ethics is read, understood, believed, remembered, and acted on rather than igno
igomit [66]

Answer: The best way to ensure that your company has read and understand the code of ethics is to establish a policy for employees to read it every year and that at the end of the reading, take a knowledge test with a minimum of 90% to pass.

Explanation: The code of ethics establishes parameters that standardize the behavior of people linked to a company. By conducting the assessment every year you ensure that people refresh the code of ethics. You can also offer tutorials that serve to get the message better before the evaluation and if someone fails the evaluation, that person must repeat it until they qualify at this 90%.

8 0
3 years ago
Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets
Neko [114]

Answer:

$42,000

Explanation:

Direct Labor per Unit = $5.60

Total Planning Budget Units = 7,500 Units

Direct Labor for Planning Budget = Total Planning Budget Units * Direct Labor per Unit

Direct Labor for Planning Budget = 7,500 Units * $5.60

Direct Labor for Planning Budget = $42,000

So, the direct labor in the planning budget for May would be closest to $42,000.

6 0
3 years ago
Other questions:
  • A parcel of real estate has been left to a spouse through her husband's will for the wife's use and enjoyment during her lifetim
    5·1 answer
  • A monopolistic producer of caviar has historically sold all of its caviar to 10 distributors. Recently, one of the distributors
    10·1 answer
  • Among United States' major trade partners in 2014, a trade ______ occurred only with _____. The United States also had the large
    7·1 answer
  • ​A(n) __________ shows the number of units the market will buy in a given time period at different prices
    10·1 answer
  • All of the following factors will affect the market rent on an office building except:
    11·1 answer
  • A property is sold for $150,000 with the buyer agrees to assume an existing loan of $98,000 and executing a second note and deed
    7·1 answer
  • which of the following countries had the highest per capita GDP in 2013? Iran, Malaysia, Poland, Turkey
    13·1 answer
  • Bruce went shopping at the Hermes store in New York City. This is a very high-end fashion store. When he entered the store, an a
    6·1 answer
  • Match the different account heads to the two aspects of business.
    15·1 answer
  • How important are signs.symbols and designs in relation to carpentry?if you do not have access to internal.you may answer based
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!