our girlfriend just won the Florida lottery. She has another choice of a 20-year annuity of $2,850,000, with the first payment coming one year from today. If the mutual fund of hers provides 4% of return each year for the next 20 years, how much can she withdraw 20 years later? $84,867,524 $85,608,031 $57,100,000 $88,942,835

our girlfriend just won the Florida lottery. She has another choice of a 20-year annuity of $2,850,000, with the first payment coming one year from today. If the mutual fund of hers provides 4% of return each year for the next 20 years, how much can she withdraw 20 years later? $84,867,524 $85,608,031 $57,100,000 $88,942,835

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 10E

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