What is the present value of your windfall

Reference no: EM13294714

You have just received notification that you have won the $2.12 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 68 years from now.

Required:

What is the present value of your windfall if the appropriate discount rate is 9 percent? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Reference no: EM13294714

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