Present Value of an AnnuityOn January 1, you win $2,500,000 in the state lottery. The $2,500,000 prize will be paid in equal installments of $250,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 6%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar. A Operating F xA Nursing Att xU Administrat xM Inbox (1,68 x My Homex: CengageNC X* exhibit_11- xG kp jobs.org x(a Affirmx +A https://college.cengage.com/geyser/warren_9781337398169/images/ch11/exhibit_11-7.jpgKАppsMicrosoft account .Blackboard LearnH Log In or Register .O my.csudh.edu CSU.B myCBA Adaptive Math | Ad.O New In - Honeybum . Registrationsgb MYGBCLAIM>>Exhibit 7Present Value of an Annuity of $1 at Compound InterestPeriods4%4%%5%5%%6%6%%7%10%11%12%13%0.961540.956940.952380.947870.943400.938970.934580,909090.900900.892860,8849621.886091.872671.859411.846321.833391.820631.808021.735541.712521.690051.668102.775092.748962.723252.697932.673012.648482.624322.486852.443712.401832.3611543.629903.587533.545953.505153.465113.425803.387213.169873.102453.037352.974474.451824.389984.329484.270284.212364.155684.100203.790793.695903.604783.5172365.242145.157875.075694.995534.917324.841014.766544.355264.230544.111413.9975576.002055.892705.786375.682975.582385.484525.389294.868424.712204.563764.422616.732746.595896.463216.334576.209796.088755.971305.334935.146124.967644.796777.435337.268797.107826.952206.801696.656106.515235.759025.537055.328255.13166108.110907.912727.721737.537637.360097.188837.023586.144575.889235.650225.426243:22 PMP Type here to search1/29/2021120近

Present Value = Annual Payment * PVIFA(10 years, 6%)

January 1, you win $2,500,000 in the state lottery. The $2,500,000 prize will be paid in equal installments of $250,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 6%, determine the present value of your winnings

January 1, you win $2,500,000 in the state lottery. The $2,500,000 prize will be paid in equal installments of $250,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 6%, determine the present value of your winnings

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Question

Present Value of an Annuity

On January 1, you win $2,500,000 in the state lottery. The $2,500,000 prize will be paid in equal installments of $250,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 6%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.

A Operating F x
A Nursing Att x
U Administrat x
M Inbox (1,68 x My Home
x: CengageNC X
* exhibit_11- x
G kp jobs.org x
(a Affirm
x +
A https://college.cengage.com/geyser/warren_9781337398169/images/ch11/exhibit_11-7.jpg
K
Аpps
Microsoft account .
Blackboard Learn
H Log In or Register .
O my.csudh.edu CSU.
B myCB
A Adaptive Math | Ad.
O New In - Honeybum . Registrations
gb MYGBCLAIM
>>
Exhibit 7
Present Value of an Annuity of $1 at Compound Interest
Periods
4%
4%%
5%
5%%
6%
6%%
7%
10%
11%
12%
13%
0.96154
0.95694
0.95238
0.94787
0.94340
0.93897
0.93458
0,90909
0.90090
0.89286
0,88496
2
1.88609
1.87267
1.85941
1.84632
1.83339
1.82063
1.80802
1.73554
1.71252
1.69005
1.66810
2.77509
2.74896
2.72325
2.69793
2.67301
2.64848
2.62432
2.48685
2.44371
2.40183
2.36115
4
3.62990
3.58753
3.54595
3.50515
3.46511
3.42580
3.38721
3.16987
3.10245
3.03735
2.97447
4.45182
4.38998
4.32948
4.27028
4.21236
4.15568
4.10020
3.79079
3.69590
3.60478
3.51723
6
5.24214
5.15787
5.07569
4.99553
4.91732
4.84101
4.76654
4.35526
4.23054
4.11141
3.99755
7
6.00205
5.89270
5.78637
5.68297
5.58238
5.48452
5.38929
4.86842
4.71220
4.56376
4.42261
6.73274
6.59589
6.46321
6.33457
6.20979
6.08875
5.97130
5.33493
5.14612
4.96764
4.79677
7.43533
7.26879
7.10782
6.95220
6.80169
6.65610
6.51523
5.75902
5.53705
5.32825
5.13166
10
8.11090
7.91272
7.72173
7.53763
7.36009
7.18883
7.02358
6.14457
5.88923
5.65022
5.42624
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