Ofen lotery winnings are divided into equal payments given annually for 20 - 25 years. So the present value of the winnings is worth less than the actual jackpot, depending on the rate at which money could beinvested. Find the prosent value in dollars using the givon conditions.Complete the table for each amount, interest rate, and number of payments.Jackpot Amount$4,000,000Interest Rate Equal Annual Payments Present Value (in dollars)5%20$4,000,00012%20$4,000,0005%25$4,000,00012%25(Round to the nearost dollar as noeded.)

Jackpot amount $4,000,000 The objective is to find the present value in dollars. Lottery winnings…

Often lotery winnings are divided into equal payments given annually for 20-25 years. So the present value of the winnings is worth less than the actual jackpot, depending on the rate at which money coud be invested. Find the present value in dollars using the given conditions. Complete the table for each amount, interest rate, and number of paymeonts Jackpot Amount Interest Rate Equal Annual Payments Present Value fin dollars) $4,000,000 20 $4,000.000 12% 20 $4,000,000 5% 25 $4,000,000 12% 25 (Round to the nearest dollar as needed.)

Often lotery winnings are divided into equal payments given annually for 20-25 years. So the present value of the winnings is worth less than the actual jackpot, depending on the rate at which money coud be invested. Find the present value in dollars using the given conditions. Complete the table for each amount, interest rate, and number of paymeonts Jackpot Amount Interest Rate Equal Annual Payments Present Value fin dollars) $4,000,000 20 $4,000.000 12% 20 $4,000,000 5% 25 $4,000,000 12% 25 (Round to the nearest dollar as needed.)

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter13: Sequences And Series

Section13.4: Mathematics Of Finance

Problem 5E

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