Assume that you just won 30 million in the florida lottery


Assume that you just won $30 million in the Florida lottery, and hence the state will pay you 20 annual payments of $1.5 million at the end of each year. If the rate of return on securities of similar risk to the lottery earnings (e.g., the rate on 20-year U.S. Treasury bonds) is 6 percent, what is the present value of your winnings?

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Financial Accounting: Assume that you just won 30 million in the florida lottery
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