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Feliz [49]
3 years ago
13

You have just received notification that you have won the $2.5 million first prize in the Centennial Lottery. However, the prize

will be awarded on your 100th birthday (assuming you're around to collect), 63 years from now. What is the present value of your windfall if the appropriate discount rate is 7 percent
Business
1 answer:
sergeinik [125]3 years ago
8 0

Answer:

PV= $35,217,78

Explanation:

Giving the following information:

Future value= $2,500,000

Number of periods= 63 years

Interest rate= 7% compounded annually

<u>To calculate the value of the prize today, we need to use the following formula:</u>

PV= FV/(1+i)^n

PV= 2,500,000 / (1.07^63)

PV= $35,217,78

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Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to
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Answer:

Part I :

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4 0
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Gloria is saving for her daughter’s college education. She wants to have $100,000 available when her daughter graduates from hig
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Answer:

The correct answer is that Gloria would have to invest $75,581 today at the rate of 7.25 % to receive $100000 in four years,hence option is correct

Explanation:

FV=PV(1+r)^t

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PV= is unknown

r=7.25%

t=4years

PV=FV/(1+r)^t

PV=100000/(1+0.0725)^4

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Answer:

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Cr Unfunded pension Liabiltiy $182,100

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Dr Unfunded pension Liabiltiy $182,100

Cr Cash $182,100

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Cr Unfunded pension Liabiltiy $182,100

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( Being to record the accrued pension liability payment to the funding agent)

5 0
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