The present value of your prize before taxes

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Reference no: EM131890244

You and 11 coworkers just won ?$10 million ?($833,333.33?each) from the state lottery. Assuming you each receive your share over 20 years and that the state lottery earns a 4 percent return on its? funds, what is the present value of your prize before taxes if you request the? 'up-front cash'?option? ?(?Note:Also assume an ordinary annuitylong dash payments made at the end of each? period.)

1. The present value of your prize before taxes if you request the? 'up-front cash' option is ? ?(Round your answer to the nearest? dollar.)

Reference no: EM131890244

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