What is the present value of her winnings

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Reference no: EM13794763

Sally has just won the million-dollar Big Slam jackpot at a gambling casino. The casino will pay her $55,000 per year for 12 years as the payoff.

You must use spreadsheet functions or a financial calculator to solve this question.

Required:

If Sally can invest money at a 11% rate of return, what is the present value of her winnings? (Round final answer to the nearest dollar amount.)

Reference no: EM13794763

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What is the present value of her winnings : Sally has just won the million-dollar Big Slam jackpot at a gambling casino. The casino will pay her $55,000 per year for 12 years as the payoff. If Sally can invest money at a 11% rate of return, what is the present value of her winnings?

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