Accounting Information Systems 1st Edition by Vernon Richardson,Chengyee Chang ,Rod Smith

تمرين 10

Congratulations. You've won the state lottery. You have a choice of three options:(a) $12 million 5 years from now, (b) $2.25 million at the end of each year for 5 years, or(c) $10 million 3 years from now. Assume you can invest at 8 percent, which option would you prefer?