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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
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 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.) Present value of the payout, Option #1: Data table Option #1: $13,000,000 after five years Option #2: $2,200,000 per year for five years Option #3: $10,000,000 after three years Print Done
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