You just won the grand prize in a national writing contest! As your prize, you will receive $1,000 a month for 15 years. If you can earn 7 percent on your money, what is this prize worth to you today

The prize is worth $111,258.73.

Explanation:

Giving the following information:

Cf= $1,000 a month

Interest rate= 0.07/12= 0.005833

Number of months= 15*12= 180

First, we need to calculate the final value:

FV= {A*[(1+i)^n-1]}/i

A= cash flow

FV= {1,000*[(1.005833^180) - 1]} / 0.005833

FV= $316,951.28

Now, the present value:

PV= FV/(1+i)^n

PV= 316,951.28/(1.005833^180)

PV= $111,258.73

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~

the third answer is correct.