You have just won the Strayer Lottery jackpot of $11,000,000

You have just won the Strayer Lottery jackpot of $11,000,000

Question # 00519995 Posted By: katetutor Updated on: 04/30/2017 07:01 AM Due on: 04/30/2017
Subject Finance Topic Finance Tutorials:
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You have just won the Strayer Lottery jackpot of $11,000,000. You will be paid in 26 equal annual installments beginning immediately. If you had the money now, you could invest it in an account with a quoted annual interest rate of 9% with monthly compounding of interest. What is the present value of the payments you will receive?
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    Tutorial # 00516910 Posted By: katetutor Posted on: 04/30/2017 07:01 AM
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