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Congratulations are in order!!!! You have just been advised by Loto - Qu bec that you won the lottery jackpot of $ 1 , 0

Congratulations are in order!!!! You have just been advised by Loto-Qubec that you won the lottery jackpot of $1,000,000!!! You know however to read the fine print and after doing so, you realize that you must choose how you will accept this payment under two options::
1. Accept the $1,000,000 over 20 years ($50,000 per year); or,
2. Take a lump-sum payment of $750,000
You know that you could invest at 6% compounded monthly. You assume that this rate won't change over 20 years. Which would be the highest-paying option?
Select one:
a.
Take the lump sum of $750,000 as it will provide a future value of $2,582,421
b.
It does not matter which option you select as both options are equivalent
c.
Take the lump sum of $750,000 as it will provide a difference in future value of $609,853 over the $1,000,000 option with payout over 20 years
d.
Take the $1,000,000 option with payout over 20 years as it will provide a future value of $2,582,421
e.
Take the $1,000,000 option with payout over 20 years as it will provide a future value of $1,872,800

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