A state lottery gives a winner the choice of receiving the winning amount in equal monthly payments for 20 years or receiving a lump sum equal to the present value of an annuity with future value equal to the winnings. The winner selecting monthly payments will receive $2,000,000/240 $8,333.33 each month for each million dollars of winnings. (Round your final answers to two decimal places.) (a) Find the present value of an annuity with monthly payments of S8,333.33, at an interest rate of 5.6% for 20 years, for the winner who wants a lump-sum payment (b) In order for the lottery to be more profitable, it is decided to pay the winnings in equal monthly payments for 25 years. Find the monthly payments of $2 million in winnings Find the present value of an annuity with those monthly payments at 5.6% for 25 years