Solution-The amount is to be paid out at the rate of 20000

The amount is to be paid out at the rate of 20000 a year

Reference no: EM13572171

The Clearinghouse Sweepstakes has just informed you that you have won $1 million. The amount is to be paid out at the rate of $20,000 a year for the next 50 years. With a discount rate of 10%, what is the present value of your prize?

Reference no: EM13572171

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The amount is to be paid out at the rate of 20000 a year

Reference no: EM13572171

Reference no: EM13572171

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