Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options: (Click the icon to view the payout options.) (Click the icon to view Present 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 $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table Assuming you can earn 6% on your funds, which option would you prefer? The present value of the payout is: (Round your answers to the nearest whole dollar) Present value of the payout, Option #1: | 0 X 1 Data Table an Option #1: $14,000,000 after five years Option #2: $2,300,000 per year for five years Option #3: $12,000,000 after three years Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 10.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.9090.893 0.877 0.870 0.862 0.847 0.833 Period 2 0.980 0.961 0.943 0.925 0.9070,890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.7180.694 Period 3 (0.971 0.942 | 0.915 0.8890.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.916 0.482 Period 5 10.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.6210.567 0.5190.497 0.476 0.437 0.402 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0,630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 7 0.933 0.871 0,813 0.760 0.711 0.665 0.623 0,583 0.547 0,513 0.452 0.400 0.376 0.354 0.314 0.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.4040.351 0.327 0.308 0.266 0.233 Period 9 0.914 0.837 0.766 0.703 0.6450.5920.5440.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 Period 10 0.905 0.820 0.744 0.6760,614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 Period 11 0.896 0.8040.722 0.650 0.585 0.527 0,475 0.429 0.3880.350 0.287 0.237 0.215 0.19 0.162 0.135 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 0.168 0.137 0.112 Period 13 0.879 0.773 0.681 0.601 0.530 0,469 0.415 0.368 0.326 0.290 0.229 0.1820.163 0.145 0.116 0.093 Period 14 0.870 0.758 0.661 0.577 0.505 0,442 0.3880.340 0.299 0.263 0.2050.1600.141 0.125 0.099 0.078 Period 15 10.861 0.743 0.642 0.555 0.481 0,417 0.362 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 16 0.853 0.7280.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.1070.093 0.071 0.054 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 0.2310.1980.146 0.108 0.093 0.080 | 0.060 0.045 Period 18 0.836 0.700 | 0.587 0.494 0.416 0.350 0.296 0.250 0.212 0.180 0.130 0,095 0.081 0.069 | 0,051 0.038 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 Period 20 0.820 0.673 0.5540.456 0.377 0.3120.258 0.215 0.178 0.149 0.104 0.073 0.061 0.051 0.037 0.026 Period 21 0.811 0.660 0.538 0.439 0.359 0.294 0.24 0.1990.1640.135 0.093 0.064 0.053 0.044 0.031 0.022 Period 22 0.803 0.647 0.522 0.422 0.342 0.278 0.226 0.184 0.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 Period 23 10.795 0.634 0.507 0.406 0.3260.262 0.211 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 Period 24 (0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.1020.066 0.043 0.035 0.028 0.019 0.013 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.0590.038 0.030 0,024 0.0160.010 Period 26 0.772 0.598 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 Period 27 0.764 0.586 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.0180.0110.007 Period 28 0.757 0.574 0.437 0.333 0.255 0.1960.150 0.116 0.090 0.069 0.042 0.026 0.0200.0160.010 0.006 Period 29 0.749 0.563 0.424 0.321 0.243 0.185 0.1410.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0.005 Period 30 0.742 0.5520.412 0.308 0.231 0.1740.131 0.099 0.075 0.057 0.033 0.0200.015 0.012 0.007 0.004 Period 40 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0,022 0.0110.005 0.004 0.003 0.001 0.001 Period 50 10.608 0.372 0.228 10.141 | 0.087 0.054 0.034 | 0.021 0.013 0.009 0.003 0.001 0.001 1 0.001 Print Done Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.9520.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.8081.783 1.759 1.736 1.6901.647 1.626 1.605 1.566 1.528 Period 3 2.9412.884 2.8292.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 Period 5 4.8534.713 4.580 4.452 4.3294.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 Period 6 5.795 5.601 5.417 5.2425.0764.917 4.767 4.623 4.4864.355 4.111 3.8893.784 3.685 3.498 3.326 Period 7 6.728 6.4726.230 6.0025.7865.582 5.389 5.206 5.033 4.868 4.564 4.288 4.1604.039 3.812 3.605 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.7475.535 5.335 4.968 4.6394.4874.344 4.0783.837 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.9955.759 5.328 4.9464.7724.607 4.303 4.031 Period 10 9.4718.9838.530 8.111 7.7227.360 7.024 6.710 6.418 6.145 5.6505.216 5.019 4.833 4.494 4.192 Period 11 10.368 9.787 9.2538.760 8.3067.887 7.499 7.139 6.805 6.495 5.938 5.4535.234 5.029 4.656 4.327 Period 12 11.255 10.575 9.954 9.385 8.8638.384 7.943 7.5367.1616.814 6.194 5.660 5.421 5.1974.793 4.439 Period 13 12.134 11.348 10.635 9.986 9.3948.853 8.358 7.904 7.487 7.103 6.424 5.8425.583 5.3424.910 4.533 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.367 6.628 6.0025.724 5.4685.0084.611 Period 15 13.86512.849 11.938 11.11810.380 9.712 9.108 8.5598.0617.606 6.811 6.1425.847 | 5.575 5.092 4.675 Period 16 14.718 13.578 12.561 11.652 10.838|10.106 9.447 8.851 8.313 7.8246.9746.2655.9545.6695.1624.730 Period 17 15.562|14.292|13.166 12.166|11.27410.477 9.763 9.122 8.5448,022 7.1206,373 6.047 5.749 5.222 4.775 Period 18 16,398|14.992 13.754 12.65911.690|10.828 10.059 9.3728.756 8.2017.250 6.467 6.128 5.818 5.2734.812 Period 19 17.226 15.678|14.32413.134|12.085|11.15810.336 9.604 8.950 8.365 7.3666.5506.1985.8775.3164.844 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.5147.469 6.623 6.259 5.929 5.353 4.870 Period 21 18.857 17.01115.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.5626.687 6.3125,973 5.384 4.891 Period 22 19.660 17.658 15.937 14.451 13.163|12.042 11.061 10.201 9.4428.772 7.645 6.7436.3596.01 5.410 4.909 Period 23 20.456 18.292 16.444 14.857|13.48912.303 11.272 10.371 9.5808.8837.718 6.792 6.3996.044 5.432 4.925 Period 24 21.243 18.914 16.936 15.24713.799 12.550 11.469 10.529 9.7078.9857.784 6.835 6.4346.073 5.451 4.937 Period 25 22.023 19.52317.41315.622 14.094 12.78311.654 10.675 9.8239.077 7.8436.873 6.4646,097 5.467 4.948 Period 26 22.795 20.12117.877|15.983 14.375 13.003 11.826 10.810 9.929 9.1617.896 6.906 6.491 6.118 5.480 4956 Period 27 23.560 20.707 18.327 16,33014,643 13.211|11.987 10.935 10.027 9.237 7.9436.935 6.514 6.1365.492 4.964 Period 28 24 316 21.281 18.764 16.663 14.898|13.406 12.137 11.051 10.116 9,307 7.984 6.9616.534 6.1525.502 4970 Period 29 25.066 21.844 19.188 16.984 15.141/13.591 12.278 11.158 10.1989.370 8.022 6.983 6.551 6.166 5.510 4975 Period 30 25.808 22 396 19.600 17.292 15.372 13.769 12.409 11.258|10.274 9.4278.055 7.0036,566 6.177 5.517 4.979 Period 40 32,835 27.355 23.115 19.793 17.159 15.040 13,332 11.925 10.757 9.7798.244 7.105 6.642 6.233 5.548 4.997 Period 50 139.196131424125 730121.482118.25615.76213.801 12.233110.962 9.915 8.304 1.2.133 6.661 16246 5.5544999 Print Done Future Value of S1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.020 1.040 1.061 1.082 1.1031.124 | 1.145 | 1.166 1.1881.210 1.254 1.300 1.323 1.030 1.061 1.093 1.125 1.158 |1.191 1.225 1.260 1.295 1.331 1.405 1.482 1.521 1.041 1.082 1.126 | 1.170 | 1.216 1.2621.311 1.360 1.4121.464 1.574 1.689 1.749 1.051 1.104 1.159 | 1.217 1.276 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.062 1.126 1.194 1.265 1.340 1.419 1.501 1.587 1.677 1.772 1.974 2.1952.313 1.072 1.149 | 1.230 1.316 1.407 1.5041.6061.714 1.828 1.949 2.211 2.502 2.660 1.083 1.1721.267 1.369 1.4771.594 1.7181.851 1.993 2.144 2.476 2.853 3.059 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.999 2.1722.3582.7733.252 3.518 1.105 1.219 1.344 1.480 1.629 1.791 1.967 2.159 2.3672.594 3.106 3.707 4.046 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.479 4.2264.652 1.1271.268 1.426 1.601 1.796 2.012 2.252 2.518 2.8133.138 3.896 4.818 5.350 1.138 1.294 1.469 1.665 1.886 2.133 2.410 2.720 3.066 3.452 4.363 5.492 6.153 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 3.3423.798 4.887 | 6.2617.076 1.161 1.346 1.558 1.801 2.079 | 2.3972.759 3.172 | 3.642| 4.177 5.474 | 7.1388.137 Period 11 Period 12 Period 13 Period 14 Period 15 Print Done Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.426 3.970 4.595 | 6.130 8.137 9.358 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 4.3285.0546.866 9.276 10.76 1.196 1.428 1.702 2.0262.407 2.854 3.380 3.996 4.717 5.5607.690 10.58 12.38 1.208 1.457 1.754 2.107 2.527 3.026 3.6174.316 5.142 6.116 8.613 12.06 14.23 1.220 1.486 1.806 2.1912.653 3.2073.870 4.6615.604 6.727 9.646 13.74 16.37 1.232 1.5161.860 2.279 2.786 3.400 4.1415.034 6.1097.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.4376.659 8.140 12.10 17.86 21.64 1.257 1.577 1.9742.465 3.0723.820 4.741 5.871 | 7.258 8.954 13.55 20.36 24.89 1.270 1.608 2.033 2.563 3.225 4,049 5.072 6.3417.911 9.850 15.18 23.21 28.63 1.282 1.641 2.094 2.666 3.386 4.292 5.427 6.8488.623 10.83 17.00 26.46 32.92 1.295 1.673 2.1572.7723,556 4.5495.8077.3969.399 11.92 19.04 30.1737.86 1.308 1.707 2.221 2.883 3.7334.822 6.214 7.988 10.25 13.11 21.32 34.39| 43.54 1.321 1.741 2.288 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39.20 50.07 1.335 1.7762.357 3.119 4.1165.418 7.114 | 9.317 12.17 15.86 26.75 44.69 57,58 1.348 1.811 2.427 3.2434.3225.743 7.612 10.06 13.27 17.45 29.96 50.95 | 66.21 1.489 2.208 3.262 4.801 7.040 10.29 14.9721.7231.41 45.26 93.05 188.9 267.9 1.645 2.6924.384 7.107 11.47 18.42 29.46 46,90 74.36 117.4 | 289.0 700.21,084 Period 26 Period 27 Period 28 Period 29 Period 30 Period 40 Period 50 Print Done Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Future Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.0202.0302.0402.050 2.060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.030 3.0603.091 3.122 3.1533.1843.215 3.246 3.278 3.310 3.374 3.440 3.473 4.060 4.122 4.1844.246 | 4.310 4.375 4.440 4.506 4.573 4.641 | 4.779 4.921 4.993 5.101 5.2045.309 5.416 5.526 5.6375.751 5.8675.985 6.105 6.353 6.610 6.742 6.152 6.308 6.468 6.633 6.8026.975 | 7.1537.336 | 7.523 7.716 8.115 8.536 8.754 7.214 7.4347.6627.898 8.142 8.394 8.654 8.9239.2009.487 10.09 10.73 11.07 8.286 8.5838.8929.2149.549 9.897 10.260 10.6411.03 | 11.44 12.30 13.23 13.73 9.369 9.755 10.16 10.58 11.03 11.49 11.98 12.49 13.02 13.5814.78 16.09 16.79 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.1915.94 17.55 19.34 20.30 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 12.68 | 13.41 14.19 15.03 15.92 16.87 17.8918.98 20.14 21.3824.13 27.2729.00 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.0934.35 14.95 | 15.97 17.09 18.2919.60 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.3631.77 37.28 43.84 47.58 Print Done Period 16 17.26 18.64 20.16 21.8223.66 25.67 27.89 30.3233.00 35.95 42.75 50.98 55.72 Period 17 18.43 20.0121.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 Period 18 19.61 21.4123.41 25.6528.13 30.91 34.00 37.45 41.30 45.60 55.75 68.39 75.84 Period 19 20.81 22.8425.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.9788.21 Period 20 22.02 24.30 26.87 29.7833.07 36.79 41.00 45.76 51.1657.2872.05 91.02 102.4 Period 21 23.24 25.7828.68 31.97 35.72 39.99 | 44.87 50.42 56.76 64.00 81.70 104.8 118.8 Period 22 24.47 27.30 30.5434.25 38.51 43.39 | 49.01 55.4662.87 71.40 92.50 120.4 137.6 Period 23 25.72 28.8532.45 36.62 41.43 | 47.00 53.4460.89 69.5379.54 104.6138.3 159.3 Period 24 26.97 30.4234.43 39.08 | 44.50 50.82 58.18 66.76 | 76.79 | 88.50 118.2158.7184.2 Period 25 28.24 32.03 36.46|41.65 47.73 54.86 63.25 73.11 84.70 98.35 133.3 181.9212.8 Period 26 29.53 33.67 38.55 44.3151.11 59.16 68.68 | 79.95 93.32 109.2 150.3 208.3245.7 Period 27 30.82 35.3440.71 47.0854.6763.71 | 74.4887.35 102.7 121.1 169.4238.5 283.6 Period 28 32.13 37.05 42.93 49.97 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 Period 29 33.45 38.7945.2252.97 62.32 73.64 | 87.35 104.0124.1 148.6 214.6 312.1 377.2 Period 30 34.78 40.57 47.5856.08 66.44 79,06 94.46 113.3 136,3 164.5241.3356.8 434.7 Period 40 48.8960.40 75.40 95.03 120.8154.8 199,6 259.1 337.9442.6767.11.3421.779 Period 50 64.46 84.58 112.8 152.7 209.3 290.3 406.5 573.8 815.1 1.164 2.400 | 4.995 7.218 er