Here's a question you and 11 coworkers won 19 million which is 1,583,333.33 each from a lottery. If we are assuming you each received your share over 18 years and state lottery earns a 6 percent return on its funds , what is the present value of your prize before taxes if you request the up front cash option? Round answer to nearest dollar

Here's a question you and 11 coworkers won 19 million which is 1,583,333.33 each from a lottery. If we are assuming you each received your share over 18 years and state lottery earns a 6 percent return on its funds , what is the present value of your prize before taxes if you request the up front cash option? Round answer to nearest dollar

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 7E

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This is the third time submitting this question which is frustrating .... You and 11 coworkers just won 6 million that's 500k each from state lottery, assuming you each receive your share over 19 years and that the state lottery earns 3 percent return on its funds, what is the present value of your prize before taxes if you request up front cash ..
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