February 20, 2017

Homework Help: Math

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

A lottery prize worth $1,000,000 is awarded in payments of $10,000 five times a year for 20 years. Suppose the money is worth 20% compounded five times per year.

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

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions