Celine dion just won a "Name that Tune" contest with a grand prize of $270,000. However...

Celine dion just won a "Name that Tune" contest with a grand prize of $270,000. However the contest stipulates that the winner will recieve 90,000 immediately and the remainder divided equally at the end of each of the next 14 years. Assuming that she can earn 5% on her money, what is the present value of her winnings?

a) what is the present value of the winnings? round to nearest cent

Expert Solution

jeff jeffy answered 2 years ago

Mr. Dubofsky just won a 'Name That Tune' contest with a grand prize of $250,000. However,...

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Francis Scott Key just won a "Name That Tune" contest with a grand prize of $270...

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