Multiple Choice
John won a lottery that will pay him $250,000 at the end of each of the next twenty years. Assuming an appropriate interest rate is 8% compounded annually, what is the present value of this amount?
A) $2,650,900.
B) $53,638.
C) $2,454,538.
D) $11,440,490.
Correct Answer:
Verified
Correct Answer:
Verified
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