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You just won the $62 million lottery. You will receive $1.9 million a year for the...

You just won the $62 million lottery. You will receive $1.9 million a year for the next 25 years plus an additional payment of $14.5 million at the end of 25 years. The interest rate is 13 percent.

How much is your lottery prize worth today? (Enter your answer as a positive number rounded to 2 decimal places.)
  

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Answer #1

Lottery prize worth today is:-.

=PV(rate,nper,pv,fv)

=PV(13%,25,1.9,14.5)

=14.61

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