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    busstudent's Avatar
    busstudent Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 10, 2008, 08:51 PM
    Simple Lottery
    The problem:

    You just won the lottery. The jackpot is 10 million, paid in 20 equal, annual payments starting today. In present-value terms, how much did you really win? Use an annual interest rate of 6.6%.

    Any clues?
    JBeaucaire's Avatar
    JBeaucaire Posts: 5,426, Reputation: 997
    Software Expert
    		  
    #2

    Feb 10, 2008, 09:29 PM
    I get about 4.3 million.
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