Question
5. Claire just won the lottery and 5. Claire just won the lottery and has been told that she can either accept annual payments at
5. Claire just won the lottery and 5. Claire just won the lottery and has been told that she can either accept annual payments at the beginning of each year of $173,695 per year for the next 20 years or she can receive a lump-sum settlement. Claire figures she could invest the money at 6.34% (the same rate as the annuity). What would the amount of the lump-sum settlement be? has been told that she can either accept annual payments at the beginning of each year of $173,695 per year for the next 20 years or she can receive a lump-sum settlement. Claire figures she could invest the money at 6.34% (the same rate as the annuity). What would the amount of the lump-sum settlement be?
the answer is not 1938424.50
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