On January 1, you win $51,750,000 in the state lottery. The $51,750,000 prize will be paid in equal installments of $5,750,000 over nine years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.Open spreadsheetDetermine the present value of your winnings. Round your answer to the nearest dollar.$ fill in the blank 2
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- On January 1, you win $37,500,000 in the state lottery. The $37,500,000 prize will be paid in equal installments of $6,250,000 over 6 years. The payments will be made on December 31 of each year, beginning on December 31 of this year. If the current interest rate is 6.5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Determine the present value of your winnings. Round your answer to the nearest dollar.On January 1, you win $4,800,000 in the state lottery. The $4,800,000 prize will be paid in equal installments of $480,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31 of the current year. If the current interest rate is 6%, determine the present value of your winnings. Use Table 3. Round to the nearest whole dollar.On January 1, you win $46,000,000 in the state lottery. The $46,000,000 prize will be paid in equal installments of $5,750,000 over eight years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 5%. Determine the present value of your winnings. Round your answer to the nearest dollar. $ fill in the blank 2
- On January 1 you win $3,480,000 in the state lottery. The $3,480,000 prize will be paid in equal installments of $290,000 over 12 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.Construct the amortization schedule for a $8000 debt that is to be amortized in 6 equal quarterly payments at 2% interest per quarter on the unpaid balance. How much interest must be paid? After you are ready, choose the "Finish attempt" option, and then "Submit all and finish". After this, take a picture or scan your solution and upload it into the e-learning system. You should upload the solution in jpg or pdf format. Please, write legibly. If I can not read your solution, I can not give points either.On January 1, you win $50,000,000 in the state lottery. The $50,000,000 prize will be paid in equal installments of $6,250,000 over eight years. The payments will be made on December 31 of each year, beginning on December 31 of this year. If the current interest rate is 5%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.
- Answer each of the following independent questions. 1. You recently won a lottery and have the option of receiving one of the following three prizes: (1) $76,000 cash immediately. (2) $27,000 cash immediately and a six-year annual annuity of $8,500 beginning one year from today, or (3) a six-year annual annuity of $15,800 beginning one year from today. Assuming an interest rate of 7% compounded annually, determine the present value for the above options. Which option should you choose? 2. A company wants to accumulate a sum of money to repay certain debts due in the future. The company will make annual deposits of $145,000 into a special bank account at the end of each of 10 years. Assuming the bank account pays 8% interest compounded annually, what will be the fund balance after the last payment is made in ten years? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1. EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Complete this question by entering your answers…Please answer question as quickly as possible. The gaming commission is introducing a new lottery game called Infinite Progresso. The winner of the Infinite Progresso jackpot will receive $1,000 at the end of January, $1,700 at the end of February, $2,400 at the end of March, and so on up to $8,700at the end of December. At the beginning of the next year, the sequence repeats starting at $1,000 in January and ending at $8,700 in December. This annual sequence of payments repeats indefinitely. If the gaming commission expects to sell a minimum of 1,150,000 tickets, what is the minimum price they can charge for the tickets to break even, assuming the commission earns 3.00 %/year on its investments and there is exactly one winning ticket?Do all calculations to 5 decimal places and round final answer to 2 decimal places. Tolerance is ±$0.03.The winner of a lottery chooses to receive annual payments of $170,000 at the end of each year for 25 years. If the current interest rate is 4.2 %, find the present value (in dollars) of the payments. (Round your answer to the nearest cent. See Example 5 in this section.)
- Complete each requirement on a separate worksheet. Each requirement must have a user input section. Makeup and enter your own numbers for the user inputs for each requirement. Requirements: 1. Create a user input section for the user to input the annual effective interest rate and number of periods per year. Calculate the annual nominal interest rate. 2. The user can invest money at the end of each year. Create a user input section for the user to input the amount that they will invest at the end of each year. Using an annual interest rate of 9%, how much will the user have at the end of 7 years? 3. The user wants to save money to buy a new car 10 years from today. The new car will cost $125,000. Create a user input section for the user to input the amount that they can invest at the beginning of each year. What annual interest rate will they need to earn to have enough cash to buy the car 10 years from today? 4. The user wants to save $60,000.00 for a once in a lifetime…Thomas won a lottery that will pay $550000 at the end of each of the next twenty years. Sandhill Finance has offered to purchase the payment stream for $6853000. What interest rate (to the nearest percent) was used to determine the amount of the payment? O 5% O 7% O 6% 8% e Textbook and MediaSuppose you want to have $600,000 for retirement in 25 years. Your account earns 4% interest. How muc would you need to deposit in the account each month? Submit Question /course/showcalendar.php?cid=179278 Search