You have just won the lottery and will receive $1,000,000 in one year. you will receive payments for 30 years, and the payments
will increase 3 percent per year. if the appropriate discount rate is 7 percent, what is the present value of your winnings?
1 answer:
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10 pennies, 16 dimes, 19 nickles.
Sorry I'm not from US so I don't know your currency. Sorry about that. Hope what I have given you is enough. :)
1901, 1099, 999, 340, 140, 110
Y=12-6 times 4
y=12-24
y=-12
