Jusef Has Won the $3,800,000 State Lottery and Intends to Save

question 58

Multiple Choice

Jusef has won the $3,800,000 state lottery and intends to save all of the money for his retirement.He chooses to receive an annual cash flow of $190,000 for twenty years,with the first payment to be received one year from today.How much money will be in his retirement account in twenty years if he can reinvest his money at an annual rate of 8.75%?

• A)$9,374,989
• B)$9,451,909
• C)$10,007,801
• D)$3,800,000

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Definitions:

Sales Forecast

An estimate of the quantity of goods or services that a company expects to sell in a future period, based on historical data, market trends, and other factors.

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An approximation of the total cost for performing a particular service, often provided to customers before any work begins.

Secondary Data

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