What is the present value of the stream of payments

Reference no: EM131814252

Question: You have just won the Iowa Lottery with a jackpot of $12,000,000. Your winnings will be paid to you in 26 equal annual installments with the first payment made immediately. If the annual interest rate is 8%, what is the present value of the stream of payments you will receive? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131814252

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