Monday

November 24, 2014

November 24, 2014

Posted by **Nick** on Sunday, December 12, 2010 at 6:35pm.

What is the formula used to find the present value of the prize?

- Math -
**Reiny**, Sunday, December 12, 2010 at 7:37pmi = .20/5 = .04

n = 20x5 = 100

PV = 10 000(1 - 1.04^-100)/.04

= 245 049.99

20% interest!!! Wow, what fantasy place is this?

**Answer this Question**

**Related Questions**

math - Suppose a state lottery prize of $2 million is to be paid in 20 payments ...

Statisics - The state lottery claims that its grand prize is $1 million. The ...

Statisics - The state lottery claims that its grand prize is $1 million. The ...

Statistics - The state lottery claims that its grand prize is $1 million. The ...

math - The Derr-McGee Manufacturing Company plans to build a new $50,000 ...

MBA Finance - Sally has won the grand prize in a lottery and must choose between...

Economics - A $90,000 investment is made. Over a 5 year period, a return of $30,...

Business Calc - Determine when, to the nearest year, $3,000 invested at 5% per ...

math - When I was considering what to do with my $10,000 Lottery winnings, my ...

math - When I was considering what to do with my $10,000 Lottery winnings, my ...