You just won the Publisher's Clearing House Sweepstakes and the right to 20 after-tax ordinary annuity cash flows of $163,291.18. Assuming a discount rate of 7.50%, what is the present value of your lottery winnings?
Use a calculator to determine your answer.
A) $3,265,823.60
B) $1,789,520.81
C) $1,664,670.52
D) There is not enough information to answer this question.
Answer: C
Explanation: C) MODE = END
INPUT 20 7.5 ? 163,291.18 0
KEY N I/Y PV PMT FV
CPT 1,664,670.52
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