present value question

label Economics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

1.       Lottery Ticket Win!  You win the lottery and are promised by the Lottery Commission $12,000 a year for 6 years, starting next year. Assume the interest rate is 9%.  What is the present value of this prize?

Feb 24th, 2015

=pv(0.09, 6, -12000)= 53831.02

$ 53,831

Feb 24th, 2015

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Feb 24th, 2015
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Feb 24th, 2015
Aug 23rd, 2017
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