Can someone please double check my answers??? Time Value of Money:

You put $10,000 in a bank every year starting one year from now at an annual interest rate of 6%. What will you have 30 years from now?

736,397.98

You are the lucky winner of the $30 million state lottery. You can take your prize money either as (a) 30 payments of $1 million per year (starting today), or (b) $15 million paid today. If the interest rate is 8%, which option should you take?

If you take the 1 mil/yr you would only get 12.15M, so you should take the 15M now instead.

You planned to donate money to UO to sponsor an annual $30,000 graduation party. The interest rate is 8% per year. Before accepting the money, however, the student association has asked that you increase the donation to account for the effect of inflation on the cost of the party in future years. Although $30,000 is adequate for next year