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    monthly compounding

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    27. You just won the lottery! As your prize you will receive $1,200 a month for 100 months. If you can earn 8% on your money, what is this prize worth to you today?
    A. $87,003.69
    B. $87,380.23
    C. $87,962.77
    D. $88,104.26
    E. $90,723.76

    © BrainMass Inc. brainmass.com October 10, 2019, 2:29 am ad1c9bdddf
    https://brainmass.com/economics/finance/monthly-compounding-379607

    Solution Preview

    You just won the lottery! As your prize you will receive $1,200 a month for 100 months. If you can ...

    Solution Summary

    Present value is depicted.

    $2.19