24. Assume that you have just won the lottery. You have two payout options. First. you can agree to take 30 equal annual payments. with the first payment to be made today at Year 0 and the last payment to be made at Year 29. Alternatively. using an effective annual rate of 6.0 percent. the lottery is willing to convert the annual payments into an equivalent lump sum payment today of $7.295.360.51. (HINT: you should now be able to determine how much each of the 30 annual payments will be.) You have no immediate need for this money and plan to simply invest and hold the money until Year 45. and believe that you can earn an effective annual rate of 9.75 percent over each of the next 45 years. Looking at your possible ending values at Year 45. you should be $110.816.265.01 $ 67.619.217.50 $154.013.312.52 $ 89.217.741.25 $132.414.788.76 W909\