Multiple Choice
Savannah has just won the state lottery. She will receive ten equal annual payments of $15,000, beginning one year from today. Assuming an 8% interest rate compounded annually, the present value of those receipts today is
A) $80,913.
B) $100,651.
C) $108,703.
D) $102,000.
Correct Answer:
Verified
Correct Answer:
Verified
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