Multiple Choice
John Jones won a lottery that will pay him $1,000,000 after twenty years.Assuming an appropriate interest rate is 5% compounded annually, what is the present value of this amount?
A) $1,000,000.
B) $2,653,300.
C) $12,462,210.
D) $376,890.
Correct Answer:
Verified
Correct Answer:
Verified
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