With a discount rate of 12 percent what is the present


Question: The Clearinghouse Sweepstakes has just informed you that you have won $1 million. The amount is to be paid out at the rate of $55,000 a year for the next 19 years.

With a discount rate of 12 percent, what is the present value of your winnings? Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: With a discount rate of 12 percent what is the present
Reference No:- TGS02750579

Expected delivery within 24 Hours