Multiple Choice
You have just won the Reader's Digest lottery of $5,000 per year for twenty years,with the first payment today followed by nineteen more start-of-the-year cash flows.At an interest rate of 5%,what is the present value of your winnings?
A) $100,000.00
B) $65,426.60
C) $62,311.05
D) $47,641.18
Correct Answer:
Verified
Correct Answer:
Verified
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