1. You have just won the Georgia Lottery with a jackpot of $37,000,000. Your winnings will be paid to you in 26 equal annual installments with the first payment made immediately. If you feel the appropriate annual discount rate is 11%, what is the present value of the stream of payments you will receive?

	$12,079,159.83
	$13,407,867.41
	$12,530,920.40
	$10,786,689.73
	$16,349,553.52

2. You are offered an investment with a quoted annual interest rate of 10% with monthly compounding of interest. What is your effective annual interest rate?

	10.00%
	10.27%
	9.74%
	10.82%
	10.47%