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A Name That Tune contest has a grand prize of $ 5 0 0 , 0 0 0 . However, the contest stipulates that the

A "Name That Tune" contest has a grand prize of $500,000. However, the contest stipulates that the winner will receive just $200,000 immediately, and $30,000 at the end of each of the next 10 years. Assuming that one can earn 8% on their money, how much has the contest winner actually won?
a. $250,000.00
b. $309,225.11
c. $365,826.02
d. $401,302.44
e. $500,000.00
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