How much should you charge your professor for winning ticket, Financial Management

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How much should you charge your professor for winning ticket

Problem

Suppose you win the Powerball with a $10 million prize. The money is paid in equal annual instalments over a 30-year period. The appropriate discount rate is 5% per year. Your professor offers to buy the "winning ticket" from you. How much should you charge your professor for the winning ticket: Using formula PV= C/r x (1 - 1/(1+r)^T)

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Financial Management: How much should you charge your professor for winning ticket

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Financial Management: How much should you charge your professor for winning ticket

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