The state lottery's million-dollar payout provides for $1.1 million to be paid in 25 installments of $44,000 per payment
The first $44,000 payment is made immediately and the 24 remaining $44,000 payments occur at the end of each of the next 24 years if 7 percent is the discount rate, what is the present value of this stream of cash flows?
If 14 percent is the discount rate, what is the present value of the cash sows? 17 percent is the discount rate, the present value of the annuity due is (Round to the nearest cent) Enter your answer in the answer box