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Often lottery winnings are divided into equal payments given annually for 20 - 25 years. So...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates. Jackpot Amount Interest Rate (%) Equal Annual Payments present value (in dollars 1,000,000 7 % 20 ------------ 1,000,000 12% 20 ---------------- 1,000,000 7% 25 ------------------- 1,000,000 12% 25 ---------------------- Round to the nearest dollar as needed
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates. Jackpot Amount Interest Rate (%) Equal Annual Payments present value (in dollars 1,000,000 7 % 20 ------------pv 1,000,000 12% 20 ---------------pv 1,000,000 7% 25 -------------------pv 1,000,000 12% 25 ----------------------pv Round to the nearest dollar as needed
(31) You have just won the Georgia Lottery with a jackpot of $31,000,000. Your winnings will...
(31) You have just won the Georgia Lottery with a jackpot of $31,000,000. Your winnings will be paid to you in 26 equal annual installments with the first payment made immediately. If you had the money now, you could invest it in an account with a quoted annual interest rate of 11% with monthly compounding of interest. What is the present value of the stream of payments you will receive? $11,233,618.64 $9,705,682.28 $10,828,812.54 $10,120,377.15 $12,828,792.49
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at...
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at the end of each of the next 25 years. If money is worth 8%, compounded annually, what is the present value of the prize? (Round your answer to the nearest ont.) $ 17580,000 is invested in an annuity that came 5.5. Compounded quarterly what payments will it provide at the end of each quarter for the next Dearest cent. $ years? (Round your answer...
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at...
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at the end of each of the next 25 years. If money is worth 4, compounded annually, what is the present value of the prize? (Round your answer to the nearest cont.) $ 60000 X with a present value of $140,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates Jackpot Amount Interest Rate (%) Equal Annual Payments 14,000,000 6 20 14,000,000 13 20 14,000,000 6 25 14,000,000 13 25
eBook Present Value of an Annuity On January 1, you win $5,000,000 in the state lottery. The $5,000,000 prize will be paid in equal installments of $500,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. I
eBookPresent Value of an AnnuityOn January 1, you win $5,000,000 in the state lottery. The $5,000,000 prize will be paid in equal installments of $500,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.
is this better 10) supposed state lottery price of 3 million is paid in 25 payments...
is this better
10)
supposed state lottery price of 3 million is paid in 25 payments of
$120,000 each at the end of each of the next 25 years if the money
is worth 12% compounded annually what is the present value of the
prize (rounds your answer to the nearest cent)
11) what amount must be set aside now to generate payments of
$50,000 at the beginning of each year for the next 12 years if
money is worth...
You have just won a $5 million lottery to be received in twenty annual equal payments of $250,000. What will happen...
You have just won a $5 million lottery to be received in twenty annual equal payments of $250,000. What will happen to the present value of your winnings if the interest rate increases during the next 20 years? It will be worth less. It will be worth more. It will not change It will increase during the first ten years.
You won a lottery that will make equal payments of $1,000 at the end of each...
You won a lottery that will make equal payments of $1,000 at the end of each year for the next five years. If the annual interest rate stays constant at 5%, what is the value of these payments in today's dollars? (Note: Round your answer to the nearest whole dollar.) $3,681 O $4,330 O $5,413 O $4,547 You found out that now you are going to receive payments of $7,500 for the next 15 years. You will receive these payments...
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at the end of each of the next 25 years. If money is worth 8%, compounded annually, what is the present value of the prize? (Round your answer to the nearest ont.) $ 17580,000 is invested in an annuity that came 5.5. Compounded quarterly what payments will it provide at the end of each quarter for the next Dearest cent. $ years? (Round your answer...
Suppose a state lottery prize is to be paid in 25 payments of $120,000 each at the end of each of the next 25 years. If money is worth 4, compounded annually, what is the present value of the prize? (Round your answer to the nearest cont.) $ 60000 X with a present value of $140,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money...
is this better
10)
supposed state lottery price of 3 million is paid in 25 payments of
$120,000 each at the end of each of the next 25 years if the money
is worth 12% compounded annually what is the present value of the
prize (rounds your answer to the nearest cent)
11) what amount must be set aside now to generate payments of
$50,000 at the beginning of each year for the next 12 years if
money is worth...
You have just won a $5 million lottery to be received in twenty annual equal payments of $250,000. What will happen to the present value of your winnings if the interest rate increases during the next 20 years? It will be worth less. It will be worth more. It will not change It will increase during the first ten years.
You won a lottery that will make equal payments of $1,000 at the end of each year for the next five years. If the annual interest rate stays constant at 5%, what is the value of these payments in today's dollars? (Note: Round your answer to the nearest whole dollar.) $3,681 O $4,330 O $5,413 O $4,547 You found out that now you are going to receive payments of $7,500 for the next 15 years. You will receive these payments...
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