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 Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) Assuming you can earn 12% on your funds, which option would you prefer? The present value of the payout is: (Round your answers to the nearest whole dollar.) X Present value of the payout, Option #1: i - Data Table Present value of the payout, Option #2: $15,000,000 after five years Present value of the payout, Option #3: Option #1: Option #2: Option #3: (Enter your answer as a numerale.g., 1.) $2,050,000 per year for five years $14,000,000 after three years The highest present value using the 12% discount rate and the option that, therefore, appears to be the most favorable, is payout option # 1.051 Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 18% 20% Period 1 0.900 0.90 0.971 0.962 0.952 0.23 0.925 C.926 0.917 090 086 0.877 0.870 0.862 0.847 0.833 Period 2 0.9800.961 0.943 0.925 0.907 0.890C.072 C.667 0.642 0828 0.797 0.769 0.758 0.7430.718 0.834 Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.26 C.7940.772 0.751 0.712 0.675 0.712 0.675 0.553 0.541 0.509 0.579 Period 4 0.961 0.924 0.888 0.866 0.823 0.792 C.763 C.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 Periods 0.951 0.906 0.08 0.872 0.74 0.747 C.74! C.A 0.650 0.821 0.587 0.519 0497 0.478 0.437 0.402 Perlod 6 0.942 0.828 0.837 0.750 0.746 0.705 C.CGG C.630 C.696 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 7 09530.871 0.013 0.750 0.7110.885 0.623 C.503 0.547 0513 0452 0.400 0.378 0.354 0.314 5.279 Perioda 0.923 0.859 0.79 0.731 0.677 0.527 C.522 C.540 0.502 0.467 0.404 0.351 0.327 0.305 0.29 0.233 Period 9 0.914 0.837 0.766 0.708 0.645 0.592 C.544 C.500 0.460 0.424 0.361 0.308 0.284 0.283 0.225 0.134 Period 10 0905 0.820 0.744 0.676 0.614 0.558 C 500 C.463 0.422 0.388 0.322 0270 0.247 0.227 0.191 0.182 Period 11 0.896 0.804 0.722 0.660 0.585 0.527 0.475 C.429 0.388 0.380 0287 0.237 0.215 0.1950.162 0.135 Period 12 0887 0.788 0.701 0.625 0.557 0497 C.444 C.397 0.356 0319 0257 0.20 0.187 0.1880.137 0.112 Period 13 0.879 0.773 0.681 0.601 0.530 0.489 0.368 0.326 0 290 0229 0.182 0.163 0.145 0.116 0.033 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.388 C.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.079 Period 15 0861 0.743 0.642 0.566 0.401 0417C.362 0.35 0.275 029 0.183 0.140 0.123 0.108 0.094 0.035 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 C.339 C.292 0.252 0218 0.163 0.125 0.107 0.093 0.071 0.054 Period 17 0844 0.714 0.605 0513 0.436 0.371 0.37 C.270 0.23 0.198 0.146 0.108 0.093 0.090 0.030 0.345 Period 18 0.838 0.700 0.587 0.494 0.418 0.350 C.298 C.250 0.2 2 0.180 0.130 0.095 0.081 0.039 0.051 0.033 Period 19 0828 0.686 0.570 0.475 0.396 0.331 C.277 C.232 0.184 0.161 0.116 0.083 0.00 0.00 0.043 0.331 Period 20 08200.673 0.554 0.456 0.377 0.312 C.250 C.25 0.17 0.149 0.104 0.073 0.051 0.051 0.037 0.02 Period 21 0.811 0.660 0.538 0.439 0.358 0.294 0.242 0.299 0.764 0.136 0.098 0.064 0.053 0.044 0.031 0.022 Period 22 0808 0.647 0.522 0.422 0.342 0.278 C.226 C. 840.150 0.123 0.003 0.056 0.046 0.038 0.025 0.018 Period 23 0.795 0.634 0.507 0.406 0.328 0.282 0211 C.-70 0.38 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 C.97 0.58 0.26 0.102 0.056 0.043 0.035 0.025 0.019 0.013 Period 25 0.780 0.610 0.478 0.375 0.295 0.233C. e4 C.46 0.116 0.062 0.050 0.038 0.030 0.024 0.016 0.010 Period 26 0.772 0.598 0.464 0.361 0.281 0.220 0.772 C. 35 0.06 0.084 0.053 0.083 0.025 0.021 0.014 0.009 Period 27 0.764 0.586 0.450 0.347 0.268 0.297 C.761 C. 25C.Ce 0.07 C. 25 C.CSe 0.076 0.047 0.029 0.023 0.018 | 0.011 0.037 Period 28 0.757 0.574 0.437 0.333 0.265 0.193.50 0.11 0.090 0.089 0.042 0.026 0.020 0.018 0.010 0.003 Period 29 0.7490.563 0.424 0.321 0.243 0.135 0.141 REMIX C.07 0.022 0.063 0.037 0.022 0.017 0.017 0.014 0.039 3.035 con la llaman laat 192 Fulure Value of $1 Periods 1% 2% 3% 4% 5% 5% 6% 7% 8% 9% 10% 12% 14% 15% Period 1 1.010 1.020 1.030 1.040 1.350 1.000 1.070 1.090 1.090 1.100 1.120 1.140 1.150 Period 2 1.020 1040 1.081 1.002 1.133 1.1241.145 1.188 1.100 1.210 1.254 1.300 1.323 Period 3 1.030 1.061 1.093 1.125 1.153 1.191 1.225 1.250 1.295 1.331 1405 1452 1.521 Period 4 1.041 1.082 1.126 1.170 1.210 1.262 1.311 1.360 1.412 1.464 1.311 1.360 1.412 1.464 1.574 1.699 1.749 Period 5 1.104 1.159 1217 1.278 1.390 1.403 1.489 1.539 1611 1.493 1.489 1.599 1.611 1.762 1.925 2.011 Period 6 1.062 1.126 1.194 1.265 1.340 1.49 1.501 1.587 1.677 1.772 1.974 2.195 2.313 Period 7 1.072 1.149 1.230 1.38 14971504 | 1.803 1.7141.929 1.949 2.211 2.502 2.830 Period 8 1.083 1.172 1.267 1.369 1.4771.594 1.718 1.851 1.993 2.144 2.475 2.853 3.059 Period 9 1.094 1.196 1.305 1.423 1.551 1.689 1.838 1.999 2.172 2.358 2.7733.252 3.518 Period 10 1.105 1219 1.344 1.400 1.329 1.791.987 2.159 2.387 2.594 3.108 3.707 4,048 Period 11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.4794225 4.852 Period 12 1.127 1268 1426 1.601 1.793 2.0 2 2.252 2.519 2.913 3.139 3.898 4818 5.350 Period 13 1.138 1294 1.294 1.469 1.469 1.665 1.833 2.33 2410 2.720 3.056 3.452 4.33 5.492 5.153 Period 14 1.149 1.319 1.513 1.513 1.732 1.990 2.267 2.579 2.937 3.342 3.798 4.857 6.251 7.075 Period 15 1.161 1.346 15591,601 2.979 2.3972.759 3.172 3.842 4.177 5.474 7.13 9.137 Period 16 1.173 1.373 1.6051.873 2.183 2.50 2.952 3.25 3.970 4.595 6.130 8.137 9.353 Period 17 1.184 1.400 1653 1.949 2.292 2.693 3.159 3.700 4.329 5.0546.838 9.278 10.78 Period 18 1.19 1.428 1.702 2.028 2407 2.854 3.380 3.993 4.717 5.580 7.890 10.58 12.38 Period 19 1.208 1.457 1.754 2.107 2.527 3.026 3.517 4.316 5.142 6.116 8.613 12.05 14.23 Period 20 1.220 1.486 1.006 2.191 2.553 2.207 3.970 4.661 5.604 6.727 9.646 13.74 16.37 Period 21 1.232 1516 1.860 2.278 2.795 3.400 4.141 5.034 6.109 7.400 5.0346.109 7.400 10.80 15.57 18.82 Period 22 1.245 1.546 1.916 2.370 2.325 2.604 4430 5.4376.659 0.140 12.10 17.98 21.84 Period 23 1.257 1.577 1.974 2.465 3.372 3.820 4.741 3.0723.20 4.721 5.671 7.250 1.954 13.55 20.33 24.89 Period 24 1.270 1.608 2.033 2.563 3.225 4.048 5.072 6.341 7.811 9.850 15.18 23.21 28.53 Period 25 1.282 1.641 2.094 2.GGG 3.3934.292 5.427 6.849 0.623 10.93 17.00 28.46 32.92 Period 26 1.673 2.157 2.772 3.558 1.548 5.807 7.395 8.389 11.92 19.04 30.17 37.55 Period 27 1.30 1.707 2.221 2.803 3.733 4.822 6.214 7.989 10.25 13.11 21.32 34.39 43.54 Period 28 1.321 1.741 2.20 2.999 3.20 5.112 8.849 9.827 11.17 14.42 23.88 39.20 50.07 Period 29 1.395 1.77 2.357 3.119 4.165.487.114 9.317 12.17 15.86 25.75 44.39 57.53 an ini A 2016 1174 1.11 11 12 1111 27 CARE 7 Present Value of Ordinary Annuity of $1 Periods 1% 29% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 18% 18% 20% Period 1 0.000 0960 0.371 0962 0.952 0943 0966 0.928 0917 0.90908600 877 0.970 0.862 0.847 08 Period 2 1.970 1942 1.913 1.88 1.859 1833 180 1783 1.750 1.738 1.690 1647 1.828 1.605 1.606 1.5681528 Period 3 2.941 284 2.328 2.775 2.723 2.673 2624 2.577 2531 2.487 2.402 2322 2.283 2246 2.174 2.106 Period 4 3902 388 3.717 3600 3.546 3.486 3387 2.9232403.1703.067 29142.055 279 2690 2.599 Period 5 4.263 4.713 2.590 4.452 4.329 4212 4.100 2.993 3.850 3.791 3.993 3.890 3.791 3.605 3.45 3.352 3274 3.127 2.991 Period 5.795 5801 5.417 5242 5.076 4917 4.767 4.62 4.4864.355 4.111 3289 1.794 3.685 3.490 3.30 Period 7 6.728 6472 6.230 6.002 5.785 5.582 5.389 5.206 5.063 4.858 4561 | 4288 4.160 4.089 3.812 3605 Period 8 7.652 7325 7.920 6.733 6.463 6210 5971 5.747 5595 5.33549684630 4.407 4.344 4.0783837 Period 9 8.568 8.162 7.788 7.435 7.108 8.812 8515 8.247 5.6 5.759 5.328 4946 4.772 4.607 4.303 4.303 4.081 Period 10 9.471 8.23 8.530 8.111 7.722 7.380 7.024 6.70 6.418 6.145 5.660 5216 5.099 4888 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.305 7.887 7490 7.13968056.495 5.958 5.453 5.234 5.029 4.658 4.654.327 Perlod 12 11.255 10.576 0.954 9.386 8.853 8.384 7943 7.536 7.1616.814 6.194 5660 5.421 5.197 4.793 4.430 Period 13 12.134 11.940 19.835 9.968 9.394 8853 8388 7.904 7.487 7.1038.424 58425.503 5342 5.342 4.910 4533 Period 14 13.004 12.106 11296 10.563 9.899 9.295 3.745 4.244 7.72 7.357 6.628 6.002 5.724 5.468 5.0084,51 Period 15 13.865 12846 11.588 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 Period 16 14.718 13.578 12.551 11.652 10.838 10.106 9447 8.851 8313 7.824 6.97462665.954 5.669 5.1624.730 Period 17 15562 14 292 13.193 12 166 11274 10.477 9.763 9.122 8544 0.022 7.120 6373 6.047 5.749 5.222 4.775 Period 18 16.398 14.992 13.754 1265 11.890 10.523 10.050 1.372 8.75 1.201 7250 6.467 E.1 28 5.818 5.818 5.273 4812 Perlod 19 17.226 15.678 14.324 13.134 12.086 11.158 10336 9.604 89609.365 7.386 6.500 6.798 5.877 5.316 1844 Period 20 18.048 16 361 14.977 13.590 12 462 11.470 10.584 9.0-09.1290.514 7.4596623 6.259 5.929 5.369 4870 Period 21 18.857 17.01: 15.415 14.029 12.821 11.764 10836 10.0179.292 0.649 7.562 6.687 6.312 5.973 5.384 4891 Period 22 19.660 17.85 15.937 14.451 13.163 12.042 11.C 10.2019.442 1.772 7.8456.7436.359 3.011 5.410 4.909 Period 23 20.456 18 292 16.444 14.857 13.469 12.308 11.272 10.371 9.580 9.883 7.718 6.7 6.399 6.044 5.432 4925 Period 24 21.243 18914 18.93815.247 13.79912 560 11.469 10.529 9.707 0.9957.784 6836 6.434 6.073 5.451 4967 Period 25 22.023 19523 17.413 15.622 14.094 12.783 11.654 10.875 9.8239.07778436.8736.464 6.097 5.467 4.948 Period 25 22.795 20 121 17.977 15.943 14 375 13.000 11.02 10.00 9929 9.161 78966906 6.491 6.119 6.110 5.480 4956 Period 27 23.560 20.707 18.32716.350 14.543 13.211 11.927 10.935 10.027 9.237 7.943 6.9656.514 7.94369656.514 6.136 3.492 4964 Period 28 24.316 21281 18.764 16.663 14.89 13.406 12.137 11.051 10.116 9.307 7.864 681 6.534 6.152 5.502 4.970 Period 29 25.068 21844 18.18818.984 15.141 13.591 12278 11.158 10.199.870800289636.551 8.168 5510 4975 lolaan lang ane 41427347 TCE 4400 44 Ep 14 T 1 DASS I Tone E CEE $ 477 C6471 Periods Period 1 Period 2 Perlod 3 Period 4 Periods Period 6 Period 7 Period 8 8 Period 9 Period 10 Period 11 Perlod 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Perlod 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 Period 26 Period 27 Period 28 Period 29 buded on Future Value of Ordinary Annuity of $1 14 2% 3% 4% 5% 8% 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 2010 2020 2.030 2.040 2.050 2060 2070 2.000 2.090 2.100 2.120 2.140 2.150 3.000 3.060 3.091 3.122 3.153 3.184 3215 3.246 3278 3.310 3.374 3.440 3.473 4.172 4.184 4.2484.310 4.375 4440 4.508 4573 4.841 4779 4.921 4.993 5.101 5204 5.309 5.415 5.525 5657 5.751 5.867 5.965 5.135 5.353 6.610 6.742 8.152 8.30 3.488 8.833 8.8.2 8.9757.158 7.338 7.523 7.7180.115 8516 0.754 7214 7.434 7.52 7.893 6.142 8301 8.654 8.923 9200 9.457 10.09 10.73 11.07 8286 8.583 8.892 9.214 3.549 9897 10.260 10.6411.c3 11.44 12.30 13 23 13.73 9369 9.756 10.16 10.58 -1.06 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 10.46 10.66 11.46 12.01 12.5 13.18 13.82 14.49 15.19 15.84 17.55 19.34 20.30 11.57 12 17 12.81 13.49 14.21 14.97 14.97 15.78 16.55 1756 18.53 20.55 28.04 24.35 1268 13.41 14.19 15.03 15.32 16.87 17.89 18.98 20.14 21.39 24.13 27.27 29.00 1381 14.68 15.22 18.83 17.71 1888 20.14 21.50 2295 24.52 28.03 32.0934.35 14.965 15.87 17.09 18.29 19.50 21.02 22.55 24.21 25.02 27.93 32.39 37.58 40.50 16.10 17.29 18.80 20.02 21.59 2328 25.13 27.15 29.36 31.77 37.28 43 84 47.58 17.26 18.64 20.16 21.82 23.55 2567 27.89 30.32 33.00 35.35 42.75 50.98 55.72 18 43 2001 21.76 23.70 25.84 2821 30.84 33.75 38.97 40.54 29.88 59.12 65.09 1961 21.41 23.41 25.55 28.13 30.91 34.00 37.45 41.30 45.50 55.75 68.59 75.84 2081 2284 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.15 63.44 78.97 98.21 2200 2430 28 87 29.7833.37 3879 38 79 41.00 45.78 51 16 57.28 72.05 91.02 1024 23 24 25.78 28.68 31.97 35.72 39.5 44.87 50.42 56.76 64.39 81.70 104.8 | 118.8 24.47 27.30 30.54 34.25 38.51 43.59 49.01 55.48 287 71.40 12.50 1204 137.8 2572 2385 3245 36.52 4143 47.00 53.44 60.89 69.53 79.54 104.5 138.3 159.3 26.97 3042 34.43 39.09 44.53 5082 58.18 66.7876.79 99.59 1182 1587 1842 2824 3200 33.48 41.85 47.73 54.86 63.25 73.11 84.70 98.35 133.3 181.9 212.8 295 3367 3856 44.3154.11 59 1668.6 79.95 93.32 109.2 150.3 2083 245.7 3082 35.34 40.71 47.03 54.57 63.71 74.48 87.35 102.7 121.1 1694 238.5 283.5 32 1337.06 2.98 49.97 58.40 6862 80.70 95.34 113.0 1342 193.7 2729 327.1 334638.79 4522 52.97 82.32 73.64 87.15 104.0 124.1 148.8 2148 3121 377.2 4 lancar pe cele 2 The AC 422 423 424 seco LAUT 9 T