Multiple Choice
John won a lottery that will pay him $100,000 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) $1,060,360.
B) $21,455.
C) $981,815.
D) $4,576,196.
Correct Answer:
Verified
Correct Answer:
Verified
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