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(Solved by Expert Tutors)You win a scratch off lottery ticket that promises to pay an initial paym


You win a scratch off lottery ticket that promises to pay an initial payment of 10,000 this year and grow at a rate of 5% forever. If the discount rate is 8%, what is the present value of this investment?

$350,000.00

$400,000.00

$300,000.00

$500,000.00

None of the above

Suppose that you buy a car which requires that you make the first payment on the day that you buy it in order to drive it off the lot. The payments are $505 per month. What was the sticker price of the car if the monthly interest rate is 1.5% (periodic rate) and it takes 4 years (48 months) to pay off the car?

$17,449.36

$17,191.49

$35,130.44

$35,657.39

None of the above


 


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Apr 19, 2020

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