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1.You have won a million dollar lottery, which means you will receive $6,925 a month for the next 20 years.Assuming a 9% discount rate compounding

1.You have won a "million dollar lottery", which means you will receive $6,925 a month for the next 20 years.Assuming a 9% discount rate compounding monthly, what is the present value of your winnings? P/YR = 12

This is an ordinary annuity, so no "BEGIN" on the calculator

a. 689,255.456

b. 596,589.314

c. 769,678.807

d. 874,259.629

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