mathd d 354127 Christine Pellman 4/23/16 13 Overvie work: 2-3 MyFinanceLab: Modu

Question

mathd d 354127 Christine Pellman 4/23/16 13 Overvie work: 2-3 MyFinanceLab: Module Two Homework Assi meet Sore: 25.56% (2.56 of 10 pts) You and 11 coworkers just wom $18 mullion ($1,500,000.00 cach) fiom the state lkottery. Assaming you each teceive your share over 16 years and that the state lottery earms a 7 pescest retum on its fands, what s the present val eof your pme bette taxes f you tequest the uphat car opt e?(Me Aso assume an oda ayam ry payments Rade a the end oedpoed)k on the able o atovou at annuity table The present value of your prize before taxes if you reoquest the 'up-tiont cash' option is sRound your answer to the nea est do) Enter your anser in the anser box, then click Check An All parts showing Clear All

Explanation / Answer

Present value = future value / PVAF @7% 16 Years
              = 1500000/9.447 =158780.56

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