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
Which of the following sentences use slang or buzzwords?
Lyrx [107]

Answer:

A) If he thinks that strategy will boost sales, he's cray-cray.

6 0
2 years ago
Which of the following most accurately describes a podcast?​ a. ​A multiplayer, competitive activity b. ​An interactive version
hichkok12 [17]
C. A podcast is a prerecorded usually audio about someone discussing a subject.
8 0
3 years ago
Discuss the nature of COIDA​
atroni [7]

Answer:

please give me brainlist and follow

Explanation:

The main objective of the COIDA is to facilitate a process which provides for payment of medical treatment and compensation for disablement caused by occupational injuries and diseases sustained by employees in the course of their employment, or for death resulting from such injuries or diseases;

6 0
2 years ago
Purple Turtle Group is analyzing a project with the following cash flows: Year Cash Flow 0 -$795,000 1 $375,000 2 $-500,000 3 $6
Phantasy [73]

Answer:

MIRR = 4.32%

Explanation:

year           cash flow

0               -$795,000

1                 $375,000

2               -$500,000

3                $600,000

4                $400,000

Since there are 2 cash outflows, the IRR calculation would result in two different answers (1 for every cash outflow), that is why we use the MIRR function in excel.

=MIRR (cash flows, finance rate, reinvestment rate)

=MIRR (-795000 to 400000, 5.5%, 5.5%)

Since we are only given one interest rate, we will use it as our finance rate and our reinvestment rate.

MIRR = 4.32%

6 0
3 years ago
Uses benefit segmentation to target students who want to get an MBA degree while still working full-time would most likely focus
qwelly [4]

yes daddy   Explanation:

6 0
2 years ago
Other questions:
  • Last week stephanie quit her job as a copywriter at an advertising agency. she has spent the past few days browsing the help wan
    7·1 answer
  • If the estimated price elasticity of demand for foreign travel is 4:
    5·1 answer
  • New corporation had net income for 2016 of​ $80,000. new corporation had​ 13,000 shares of common stock outstanding at the begin
    13·1 answer
  • Find 1 or 2 examples from this historically significant persuasive speech where President Reagan attempts to strengthen or
    10·1 answer
  • Suppose a mutual fund qualifies as having moderate risk if the standard deviation of its monthly rate of return is less than 3​%
    12·1 answer
  • Mr. Rob O'Leary owns 17.6 percent of the existing shares of stock in Dyna Corp. The corporation is presently issuing new stock.
    9·1 answer
  • A broker desires to keep an escrow account in an interest bearing account. Would this be legal?
    9·1 answer
  • Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to come up with names for
    11·1 answer
  • When the LRAC curve has a clear minimum point, then
    12·2 answers
  • Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives an 80% discount for its bread at the end
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!