Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you won the lottery and will receive $1,000 per mo

You won the lottery and will receive $1,000 per month forever. If the discount rate...

90.2K

Verified Solution

Question

Finance

You won the lottery and will receive $1,000 per month forever. If the discount rate is 5%, what is the value of this perpetuity?

Show work

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An M7 5 earthquake strikes this region and is caused by motion along the labeled...

Biology
Q

Professor Frank Nabarro insists that all senior physics majors take his notorious physics aptitude test...

Basic Math
Q

In the figure shown C 11 F and C 5 F then at steady state...

Physics
Q

A rectangle s length L t and width W 1 measured in inches are varying...

Calculus
Q

Laker Company reported...

Accounting
Q

Rizio Co. purchases a machine for $10,800, terms 1/10, n/60, FOB shipping point. The seller...

Accounting
Q

Business Description After taking business classes, Jed, an avid poultry enthusiast, decided to...

Accounting
Q

Peavey Enterprises purchased a depreciable asset for $23,500 on April 1, Year 1. The asset...

Accounting
Q

Monthly deposits are made into an account paying 6.8% nominal interest compounded monthly. If the...

Accounting
Q

The management of Kunkel Company is considering the purchase of a $27,000 machine that would...

Accounting
Q

A company had stock outstanding as follows during each of its first three years of...

Accounting
Q

xercises (Static) 0 The tollowing amortization schedule indicates the interest and installment note established January...

Accounting