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What is the current value of winnings

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Enter the future lump sum as the FV and enter the payments, then calculate the PV once.

Question 1: Mary Jane won the $41 million lottery. She is to receive $1.5 million a year for the next 19 years plus an additional lump sum payment of $12.5 million at the end of the 19 years. Assuming a discount rate of 14%, what is the current (present) value of her winnings?

FV=12,500,000

PMT=1,500,000

N=19

I/Y=14

Reference no: EM132490346

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