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What amount has dorothy really won in the lotto

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Question - Dorothy Taylor has just won the Lotto. Her prize pays $39200 at the end of each year for 4 years. In addition, she will receive a one-time payment of $235200 at the end of 4 years.

Type of Cash Flow

Periods

Interest Rate

Factor

PV of $1

4

9%

0.7084

FV of $1

4

9%

1.4116

PV ordinary annuity

4

9%

3.2397

FV ordinary annuity

4

9%

4.5731

PV annuity due

4

9%

3.5313

Required - Using the following factors at 9%, what amount has Dorothy really won in the Lotto?

Reference no: EM133188891

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