Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options: E: (Click the icon to view the payout options.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Assuming you can earn 8% on your funds, which option would you prefer? The present value of the payout is: (Round your answers to the nearest whole dollar.) Option #1: Data Table Option #1: $15,000,000 after five years Option #2: $2,250,000 per year for five years Option #3: $12,000,000 after three years Print Done Present Value of $1 Periods 2 3 4 5 1% 0.990 0.980 0.971 0.961 0.951 2% 0.980 0.961 0.942 0.924 0.906 3% 0.971 0.943 0.915 0.888 0.863 4% 0.962 0.925 0.889 0.855 0.822 5% 0.952 0.907 0.864 0.823 0.784 6% 0.943 0.890 0.840 0.792 0.747 7% 0.935 0.873 0.816 0.763 0.713 8% 0.926 0.857 0.794 0.735 0.681 9% 10% 0.917 0.909 0.842 0.826 0.772 0.751 0.708 0.683 0.650 0.621 12% 0.893 0.797 0.712 0.636 0.567 14% 0.877 0.769 0.675 0.592 0.519 15% 0.870 0.756 0.658 0.572 0.497 16% 0.862 0.743 0.641 0.552 0.476 18% 0.847 0.718 0.609 0.516 0.437 20% 0.833 0.694 0.579 0.482 0.402 0.507 7 8 9 10 0.942 0.933 0.923 0.914 0.905 0.888 0.871 0.853 0.837 0.820 0.837 0.813 0.789 0.766 0.744 0.790 0.760 0.731 0.703 0.676 0.746 0.711 0.677 0.645 0.614 0.705 0.665 0.627 0.592 0.558 0.666 0.623 0.582 0.544 0.508 0.630 0.583 0.540 0.500 0.463 0.596 0.547 0.502 0.460 0.422 0.564 0.513 0.467 0.424 0.386 0.452 0.404 0.361 0.322 0.456 0.400 0.351 0.308 0.270 0.432 0.376 0.327 0.284 0.247 0.410 0.354 0.305 0.263 0.370 0.314 0.266 0.225 0.191 0.335 0.279 0.233 0.194 0.162 0.227 0.475 11 12 13 14 15 0.896 0.887 0.879 0.870 0.861 0.804 0.788 0.773 0.758 0.743 0.722 0.701 0.681 0.661 0.642 0.650 0.625 0.601 0.577 0.555 0.585 0.557 0.530 0.505 0.481 0.527 0.497 0.469 0.442 0.417 0.444 0.415 0.429 0.397 0.368 0.340 0.315 0.388 0.350 0.356 0.319 0.326 0.290 0.299 0.263 0.275 0.239 0.287 0.257 0.229 0.205 0.183 0.237 0.208 0.182 0.160 0.140 0.215 0.187 0.163 0.141 0.123 0.195 0.168 0.145 0.125 0.108 0.162 0.137 0.116 0.099 0.084 0.135 0.112 0.093 0.078 0.065 0.388 0.362 16 17 18 19 20 0.853 0.844 0.836 0.828 0.820 0.728 0.714 0.700 0.686 0.673 0.623 0.605 0.587 0.570 0.554 0.534 0.513 0.494 0.475 0.456 0.458 0.436 0.416 0.396 0.377 0.394 0.371 0.350 0.331 0.312 0.339 0.317 0.296 0.277 0.258 0.292 0.270 0.250 0.232 0.215 0.252 0.231 0.212 0.194 0.178 0.218 0.198 0.180 0.164 0.149 0.163 0.146 0.130 0.116 0.104 0.123 0.108 0.095 0.083 0.073 0.107 0.093 0.071 0.093 0.080 0.060 0.081 0.069 0.051 0.070 0.060 0.043 0.061 0.051 0.037 0.054 0.045 0.038 0.031 0.026 21 22 23 24 25 0.811 0.803 0.795 0.788 0.780 0.660 0.647 0.634 0.622 0.610 0.538 0.522 0.507 0.492 0.478 0.439 0.422 0.406 0.390 0.375 0.359 0.342 0.326 0.310 0.295 0.294 0.278 0.262 0.247 0.233 0.242 0.226 0.211 0.197 0.184 0.199 0.184 0.170 0.158 0.146 0.164 0.150 0.138 0.126 0.116 0.135 0.123 0.112 0.102 0.092 0.093 0.083 0.074 0.066 0.059 0.064 0.056 0.049 0.043 0.038 0.053 0.046 0.040 0.035 0.030 0.044 0.038 0.033 0.028 0.024 0.031 0.026 0.022 0.019 0.016 0.022 0.018 0.015 0.013 0.010 26 27 28 29 30 0.772 0.764 0.757 0.749 0.742 0.598 0.586 0.574 0.563 0.552 0.464 0.450 0.437 0.424 0.412 0.361 0.347 0.333 0.321 0.308 0.281 0.268 0.255 0.243 0.231 0.220 0.207 0.196 0.185 0.174 0.172 0.161 0.150 0.141 0.131 0.135 0.125 0.116 0.107 0.099 0.106 0.098 0.090 0.082 0.075 0.084 0.076 0.069 0.063 0.057 0.053 0.047 0.042 0.037 0.033 0.033 0.029 0.026 0.022 0.020 0.026 0.021 0.014 0.023 0.018 0.011 0.020 0.0160.010 0.017 0.014 0.008 0.015 0.012 0.007 0.009 0.007 0.006 0.005 0.004 40 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.011 0.005 0.004 0.003 0.001 0.001 50 0.608 0.372 0.228 0.141 0.087 0.054 0.034 0.021 0.013 0.009 0.003 0.001 0.001 0.001 Future Value of $1 Periods 1 2 3 4 5 1% 2% 1.010 | 1.020 1.020 1.040 1.030 1.061 1.041 1.082 1.051 1.104 3% 4% 5% 6% 1.030 | 1.040 | 1.050 11.060 1.061 1.082 1.103 1.124 1.093 1.125 1.158 1.191 1.126 1.170 1.216 1.262 1.159 1.217 11.276 1.338 7% 1.070 1.145 1.225 1.311 1.403 8% 1.080 1.166 1.260 1.360 1.469 9% 1.090 1.188 1.295 1.412 1.539 10% 1.100 1.210 1.331 1.464 1.611 12% 14% 1.120 | 1.140 1.254 1.300 1.405 1.482 1.574 1.689 1.762 1.925 15% 1.150 1.323 1.521 1.749 2.011 1.265 6 7 8 1.316 1.062 1.126 1.072 | 1.149 1.083 1.172 1.094 1.195 1.105 1.219 1.194 1.230 1.267 1.305 1.344 1.369 1.423 1.480 1.340 | 1.419 1.501 1.407 1.504 | 1.606 1.477 1.594 1.718 1.551 1.689 1.838 1.629 1.791 1.967 1.587 1.714 1.851 1.999 2.159 1.677 1.828 1.993 2.172 2.367 1.772 1.974 | 2.195 | 2.313 1.949 2.211 2.502 2.660 2.144 | 2.476 2.853 3.059 2.358 12.773 3.252 3.518 2.594 3.106 3.707 14.046 10 11 12 13 14 15 1.116 1.127 1.138 1.149 1.161 1.243 1.268 1.294 1.319 1.346 1.384 1.426 1.469 1.513 1.558 1.539 1.710 1.898 | 2.105 2.332 1.601 1.796 2.012 | 2.252 2.518 1.665 | 1.886 2.133 2.410 2.720 1.732 1.980 | 2.261 2.579 | 2.937 1.801 2.079 2.397 2.759 3.172 2.580 2.813 3.066 3.342 3.642 2.853 3.479 4.226 | 4.652 3.138 | 3.896 | 4.818 5.350 3.452 4.363 5.492 6.153 3.798 4.887 6.261 7.076 4.177 5.474 7.138 88.137 16 17 18 19 20 1.173 1.184 1.196 1.208 1.220 1.373 1.400 1.428 1.457 1.486 1.605 1.653 1.702 1.754 1.806 1.873 2.183 2.540 2.952 3.426 1.948 2.292 2.693 3.159 3.700 2.026 | 2.407 | 2.854 13.380 3.996 2.107 2.527 3.026 3.617 4.316 2.191 2.653 3.207 3.870 14.661 3.970 4.328 4.717 5.142 5.604 4.595 6.130 5.054 6.866 5.560 | 7.690 6.116 8.613 6.727 9.646 8.137 9.276 10.58 12.06 13.74 9.358 10.76 12.38 14.23 16.37 21 22 23 24 25 1.860 | 2.279 2.786 3.400 1.916 2.370 2.925 3.604 1.974 | 2.465 | 3.072 13.820 2.033 2.563 3.225 4.049 2.094 2.666 3.386 4.292 1.232 1.516 1.245 1.546 1.257 1.577 1.270 1.608 1.282 1.641 1.295 | 1.673 1.308 1.707 1.321 1.741 1.335 1.776 1.348 1.811 26 27 28 29 30 2.157 | 2.772 2.221 2.883 2.288 2.999 2.357 3.119 2.427 3.243 3.556 3.733 3.920 4.116 4.322 4.549 4.822 5.112 5.418 5.743 4.141 5.034 6.109 4.430 5.437 6.659 4.741 | 5.871 7.258 5.072 6.341 7.911 5.427 6.848 8.623 5.807 7.396 9.399 6.214 7.988 10.25 6.649 8.627 11.17 7.114 9.317 1 12.17 7.612 10.06 13.27 14.97 21.72 | 31.41 7.400 10.80 15.67 18.82 8.140 12.10 17.86 21.64 8.954 13.55 20.36 24.89 9.850 15.18 23.21 28.63 10.83 17.00 26.46 32.92 11.92 19.04 | 30.17 37.86 13.11 21.32 134.39 43.54 14.42 23.88 39.20 50.07 15.86 | 26.75 | 44.69 | 57.58 17.45 29.96 50.95 66.21 45.26 93.05 188.9 267.9 117.4 289.0 700.2 | 1,084 40 1.489 2.208 3.262 4.801 7.040 10.29 50 1.645 2.692 4.384 7.107 11.47 18.42 29.46 | 46.90 74.36 20% 0.833 1 1.833 1.690 1.528 14% 0.877 1.647 2.322 2.914 3.433 15% 0.870 1.626 2.283 2.855 3.352 16% 0.862 1.605 2.246 2.798 3.274 18% 0.847 1.566 2.174 2.690 3.127 3 2.941 2.106 2.589 2.991 3.685 4.039 3.889 4.288 4.639 4.946 5.216 3.784 4.160 4.487 4.772 5.019 4.344 4.607 4.833 3.498 3.812 4.078 4.303 4.494 3.326 3.605 3.837 4.031 4.192 Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 2 1.970 1.942 1.913 1.886 1.859 1.808 1.783 1.759 1.736 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 4 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 5 4.853 4.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 6 5.795 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.564 8 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 4.968 9 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 10 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 11 10.368 9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 12 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 13 12.134 | 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.424 14 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.367 6.628 15 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 16 14.718 13.578 12.561 11.652 10.838 10.106 9.447 8.851 8.313 7.824 6.974 17 15.562 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.120 18 16.398 14.992 13.754 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.250 19 17.226 15.678 14.32413.134 12.085 11.158 10.336 9.604 8.950 8.365 7.366 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.5147.469 21 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.562 22 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.2019.442 8.772 7.645 23 20.456 18.292 16.444 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 24 21.243 18.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 25 22.023 19.523 17.413 15.622 14.094 12.783 11.654 10.675 9.823 9.077 7.843 5.453 5.660 5.842 6.002 6.142 5.234 5.421 5.583 5.724 5.847 5.029 5.197 5.342 5.468 5.575 4.656 4.793 4.910 5.008 5.092 4.327 4.439 4.533 4.611 4.675 6.265 6.373 6.467 6.550 6.623 5.954 6.047 6.128 6.198 6.259 5.669 5.749 5.818 5.877 5.929 5.162 5.222 5.273 5.316 4.730 4.775 4.812 4.844 4.870 5.353 6.687 6.743 6.792 6.835 6.873 6.312 6.359 6.399 6.434 6.464 5.973 6.011 6.044 5.384 4.891 5.410 4.909 5.432 4.925 5.451 5.467 4.948 6.073 4.937 6.097 26 27 28 29 30 22.795 20.121 | 17.877 15.983 14.375 13.003 11.826 10.810 9.929 9.161 23.560 20.707 18.327 16.330 14.643 13.211 11.987 10.935 10.027 9.237 24.316 21.281 18.764 16.663 14.898 13.406 12.137 11.051 10.116 9.307 25.066 21.844 19.188 16.984 15.141 13.591 12.278 11.158 10.1989.370 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.2749.427 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.7579.779 39.196 31.424 25.730 21.482 18.256 15.762 13.801 | 12.233 10.962 9.915 7.896 7.943 7.984 8.022 8.055 6.906 6.935 6.961 6.983 7.003 6.491 6.514 6.534 6.551 6.566 6.118 6.136 6.152 6.166 6.177 5.480 4.956 5.492 4.964 5.502 4.970 5.510 4.975 5.517 4.979 40 8.244 7.105 6.642 6.233 5.548 4.997 50 8.304 7.133 6.661 6.246 5.554 4.999