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Bill won the lottery. He has the choice of $1,000,000 today or $100,000 paid at the beginning of each of the next 20 years starting

Bill won the lottery. He has the choice of $1,000,000 today or $100,000 paid at the beginning of each of the next 20 years starting immediately (a total of $2 mil!). Disregarding taxes and inflation, what rate of return would give each option the same Present Value?

	A.	8.19%
	B.	8.92%
	C.	7.2%
	D.	7.75%

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