Solved: The winner of a 1000000 lotto jackpot receives 50000 a year, Mathematics

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The winner of a 1000000 lotto jackpot receives 50000 a year

Question: The winner of a $1,000,000 Lotto Jackpot receives 50,000 a year for 20 years. Assume the $50,000 is a continuous uniform stream over the year. If money earns 4% interest compounded continuously, what is the lump sum amount that is paid off immediately?

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Mathematics: The winner of a 1000000 lotto jackpot receives 50000 a year

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Mathematics: The winner of a 1000000 lotto jackpot receives 50000 a year

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