9. assume that you just won $35 million in the florida lottery, and hence the state will pay you 20 annual payments of $1.75 million each beginning immediately. if the rate of return on securities of similar risk to the lottery earning (e. g, the rate on 20 year us treasury bonds) is 6 percent, what is the present value of your winning
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![PV = P*[\frac{1-(1+r)^{-n}}{r}]](/tpl/images/0473/9260/6dd1d.png)
![PV = 1.75*[\frac{1-(1+0.06)^{-20}}{0.06}]\\PV=\$11.47\ million](/tpl/images/0473/9260/91608.png)
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9. assume that you just won $35 million in the florida lottery, and hence the state will pay you 20...
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