$4.$ The state lottery claims that its grand prize is $$2$ million. The lucky winner will receive $$100,000$ upon presentation of the winning ticket plus $$100,000$ at the end of each year for the next $19$ years.The state lottery claims that its grand prize is $$2$ million. The lucky winner will receive

$$100,000$ upon presentation of the winning ticket plus $$100,000$ at the end of each year

for the next $19$ years.

b$-$What would it actually be worth in dollars to you? $(5$ Points$)$ use you own investment risk.

c$-$What would the twenty yearly payments need to be for the present value of the lottery to be

$$2$ million? Hint: The first step is to determine what type of an

annuity the lottery

represents.