Calculate how much winning a $$1,000,000$ lottery paid out in $20$ equal payments of $$50,000$ per year is worth today assuming an $8\%$ interest rate and annual compounding.

Calculate how much winning a $$1,000,000$ lottery paid out in $20$ equal payments of $$50,000$ per year is worth today assuming an $8\%$ interest rate and annual compounding.

$$1,490,806\mathrm{.}99$

$$833,473\mathrm{.}20$

$$490,907\mathrm{.}37$

$$1,200,384\mathrm{.}78$

$$526,843\mathrm{.}33$