A $500,000 lottery prize pays $25,000 per year for the next 20 years. If the current rate of return is 8.75%, what is the present value of this prize?

Please round the answer to the nearest cent.

$ __________

Question

A $500,000 lottery prize pays $25,000 per year for the next 20 years. If the current rate of return is 8.75%, what is the present value of this prize?
​
Please round the answer to the nearest cent.
​
$ __________

Quizplus · Accepted Answer

The Answer of A $500,000 lottery prize pays $25,000 per year for the next 20 years. If the current rate of return is 8.75%, what is the present value of this prize?
​
Please round the answer to the nearest cent.
​
$ __________

A $500,000 Lottery Prize Pays $25,000 Per Year for the Next