What is the present value of price money

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You won the 'set for life' lottery which promises to pay you $1,000 per month forever starting today. At the end of August of each year you collect a bonus payment of $1,000 to make it easier to go on summer vacation. To make calculations easier suppose that today is Jan 1st. You discount rate is 10% p.a. What is the present value of your price money?

Reference no: EM132382571

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