13. Future Value of Annuity. Jesse has just learned that she won $1 million in her state lottery. She has the choice of receiving a lump-sum payment of $312,950 or $50,000 per year for the next 20 years. Jesse can invest the lump sum at 8%, or she can invest the annual payments at 6%. Which should she choose for the greatest return after 20 years? 6. Present Value. Juan would like to give his newly born grandson a gift of $10,000 on his 18th birth- day. Juan can earn 7% interest on a certificate of deposit. How much must he deposit now in order to achieve his goal? 12