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 S1 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 12% on your funds, which option would you prefer? The present value of the payout is: (Round your answers to the nearest whole dollar.) Data Table 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 8% Periods 1% 2% 3% 4% 5% 6% 7% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.980 0971 0.962 0 952 0.943 0.935 0.926 0917 0 909 0.893 0.8770.870 0 862 0847 0.833 Period 2 0.980 0.961 0.943 0.925 09070 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 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0675 0.6580 6410.6090 579 Period 4 0961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0552 0516 0.482 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.497 0.476 0.437 0.402 Period 6 0 942 0.888 0.837 0.790 0.746 0.705 0666 0630 0.596 0.564 0.507 0.456 0.432 0.4100370 0.335 Period 7 0.933 0.871 0.813 0.7600.711 0.665 0.623 0583 0.547 0.513 0452 0.400 0.376 0.35403140.279 Period 8 10.923 0.853 0.789 0.731 0.677 0.62705820540 0.502 0.467 0.4040.351 0.327 03050266 0.233 Period 9 10.914 0.837 0.766 0.703 0.6450.5920 544 0.500 0.460 0.4240361 0.308 0.284 0.263 0225 0.194 Period 10 0.905 0.820 0.744 0.676 0.614 0.5580 508 0.463 0.4220 386 0.3220 270 0.2470 227 0.191 0.162 Period 11 0 896 0.804 0.722 0.650 0.585 0.527 0.475 0429 0388 03500 287 0237 0.215 0.1950.162 0.135 Period 12 0887 0.788 0.701 0.625 0.5570497 0.444 0.3970356 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 0.4690.415 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 0.5770505 0.442 0.388 0.340 0299 0.263 0.205 0 160 0.141 0.125 0.099 0.078 Period 15 0.861 0.743 0.6420555 0.481 0.4170362 0.315 0.275 0239 0.183 0.140 0.123 0.1080084 0.065 Period 16 0.853 0.7280 623 0.534 0.4580394 0.3390292 0252 0218 0.163 0.123 0.107 0.093 0.071 0.054 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.3170270 0.2310.198 0.146 0.108 0.093 0.000 0.060 0.045 Period 18 0.836 0.700 0.587 0.494 0.416 0.350 0 296 0.250 0212 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 0232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 Period 20 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0215 0.178 0.149 0.104 0.073 0.061 0.0510037 0.026 Period 21 0.811 0.660 0538 0.439 0.359 0 294 0 242 0.199 0.164 0.135 0.093 0.064 0.053 0044 0.031 0.022 Period 22 0.803 0.647 0.522 0422 0.342 0.278 0.226 0 1840.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 Print Done Example Get More Help VIOITUUUU VJU VITO UNO Vi616 UIO U.IN VI V.VOJ W.VUT Vuu VVU Period 21 V.2007 Period 22 0.803 0.647 0.522 0.422 0.342 0.278 0.226 Period 23 0.795 0.6340.507 0.406 0.326 0.262 0.211 Period 24 0.788 0.622 0.492 0.390 0310 0 247 0.197 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.184 Period 26 0.772 0.598 0.464 0.361 0.281 0.220 0.172 Period 27 10.764 0.586 0.450 0.3470268 0.207 0.161 Period 28 0.757 0.574 0.437 0333 0.255 0.1960.150 Period 29 0.749 0.563 0424 0.321 0243 0.185 0.141 Period 30 0.742 0.5520.412 0.308 0.231 0.174 0.131 Period 40 0672 0.453 0307 0.208 0.142 0.097 0.067 Period 50 0 608 0.372 0.228 0.141 0.087 0.054 0.034 0.184 0.150 0.123 0.003 0.056 0.046 0.038 0026 0.018 0.1700.138 0.112 0.074 0.0490040 0.033 0.022 0.015 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0013 0.146 0.116 0.092 0.05 0.038 0.0300024 0.0160.010 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 0.125 0.0980076 0.047 0,029 0,0230.0180.0110 007 0.116 0.090 0.069 0,042 0.026 0.020 0,016 0010 0.006 0.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0.005 0.099 0,075 0.057 0,033 0.020 0,015 0,012 0.0070004 0.046 0032 0.022 0.011 0.005 0.0040.003 0.001 0.001 0.021 00130.009 0.003 0.001 0.001 0.001 20% Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0935 0.926 0917 0.909 0.893 0.87708700 862 0.847 0.833 Period 2 1.970 1.942 1.913 1886 1.859 1.833 1.8081.783 1.759 1.736 1.6901.647 1626 1.605 1.566 1.528 Period 3 2.9412.8842829 2.775 2723 2.673 2.624 2577 2 531 2487 2.40223222283 2246 2174 2.106 Period 4 3.902 3.808 3.717 3.630 3.546 3465 3.387 3312 3.240 3.170 3.0372914 2855 2.798 2690 2.589 Period 5 4.8534.713 4580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3352 3.274 3.127 2.991 Period 6 5.795 5601 5.417 5.242 5.076 4917 4.767 4.623 4.486 4355 4.111 3.889 3.784 3.685 3.498 3.326 Period 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5,033 4.868 4.564 4.288 4.1604.0393.812 3,605 Period 8 7.652 73257020 6.733 6.463 6.210 5.971 5.747 5535 5335 4.968 4.6394.487 4.344 4.078 3837 Period 9 8.566 8.162 77867435 7.108 6.802 6.515 6.247 5.995 5759 5.32849464.7724.607 4 303 4,031 Period 10 9.471 8.983 8.530 8 111 7722 7.360 7.024 6710 6.418 6.145 5.6505.216 5,019 4.833 4.494 4.192 Period 11 10.368 9.7879.253 8.760 8.306 7887 7.499 7 139 6.8056.495 5.938 5.453 5.2345,029 4.656 4.327 Period 12 11.255 10575 9.9549.385 8863 8.384 794375367.1616.814 6.1945.660 5.421 5.197 4.793 4.439 Period 13 12 134 11 348 10.635 9.986 9.394 8853 8.358 7904 7487 7.103 6.424 5.8425.583 5.3424.910 4533 Period 14 13.004 12.106 11 296 10.563 9.899 9295 8.745 8.244 77867.367 6.628 6.0025.724 5.468 5.008 4.611 Period 15 13.865 12.849 11.938 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 13578 12.561 11.652 10.838 10.106 9.447 8.851 8 3137 824 6.9746.265 5.954 5.669 5.162 4730 Period 17 15,562 14.292 13.166 12.166 11.27410.477 9.763 9.122 8.5448 022 7.120 6373 6.047 5.749 5.222 4775 Period 18 16398 14.992 13.754 12 659 11.690 10.828 10.0599372 8.756 8.201 7.250 6.4676.128 5.818 5.273 4.812 Period 19 17.226 15.678 14 324 13 134 12085 11.158 10.336 9.604 8.950 8.365 7366 6.5506.1985 877 5.316 4844 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.5949.818 9.12985147.469 6.623 6 259 5.9295353 4.870 Period 21 18.857 17 01115.415 14.029 1282111.764 10836 10.0179292 8.6497562 6.687 6.312 5.973 5384 4.891 Period 22 19.660 17.658 15937 14.451 13.163 12 042 11.061 10 201 9442 8.7727645 6.743 6.359 6.0115.410 4.909 AN Period 21 18,857 17 011 15.415 14.029 12 821 11.764 10.836 10.017 9.292 8 6497562 6.687 6,312 5.973 53844 891 Period 22 19.660 17.658 15,937 14.451 13.163 12.042 11.061 10 201 94428.772 7645 6.743 6.3596.01154104909 Period 23 20.456 18 292 16.444 14.857 13.489 12 303 11.272 10.371 9.5808.883 7.718 6.792 6.3996 044 5432 4.925 Period 24 21 243 18,914 16.936 15.247 13.799 12.550 11469 10,529 9707 8.9857784 6.835 64346.0735451 4937 Period 25 22.023 1952317413 15.622 14.09412783 11.654 10.675 9.8239.07778436.8736.4646 0975467 4.948 Period 26 22.795 20.121 17 877 15,983 14 375 13.003) 11.826 10 810 9.929 9.161 78966.9066491 6.118 5480 4956 Period 27 23,56020 707 18.32716.330 14.64313 211 11.987 10.935 10.027 92377943 6.9356.514 6.136 5.492 4964 Period 28 24.3162128118.764 16.663 14.898 13.406 12. 137 11051 10.116 93077.984 6.961 | 6.534 6.152 55024.970 Period 29 25.06621844 19.188 16.984 15.14113.591 12.278 11.158 10.1989.3708.022 6.98365516.166 5510 4.975 Period 30 25 808 22 396 19.600 17.292 15.372 13.765 12.409 11 258 10 274 9.4278.0557003 6.566 6.177 5517 4.979 Period 40 32835 27 355 23.115 19.793 17 159 15 046 13.332 11925 10.757 9.779 8 244 7.105 6.642 6.233 5.548 4997 Period 50 39.196 31.42425.730 21.482 18256 15.762 13 801 12233 10.962 9915 8.304 7.133 66616.246 55544999 & Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Future Value of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1010 1.020 1.030 1040 1050 1.060 1.070 1080 1.090 1.100 1.120 1.140 1.150 1.020 1040 1.061 1.0821.103 1.1241.1451 166 1.188 1210 1.254 1.300 1.323 1.030 1.061 10931.125 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 1.262 1.311 1.360 1.412 1.464 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 1.1941.265 1.340 1.4191501 1.587 1.677 1.772 1974 2.1952 313 1.072 1.149 1.230 1.316 1.407 1.5041.606 1.7141.828 1.949 2211 2502 2.660 1.083 1.172 1.267 1.369 1.477 1.594 1718 1851 1.993 2.144 2.476 2.853 3.059 1.094 1.195 1.305 1.423 1551 1.689 1.838 1.999 2.172 23582.7733252 3.518 1.105 1.219 1.344 1.480 1.629 1791 1.967 2 159 2.367 2 594 3.106 3.707 4.046 1.116 1.243 1.384 1.539 1.710 1.898 2 105 2332 2.580 2853 3.479 4.226 4,652 1.127 1.268 1.426 1.601 1796 2012 2252 2518 2 8133.138 3.896 4.818 5.350 1.138 1.294 1.469 1.665 1.886 2133 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 25792.937 3.342 3.798 4.887 6.261 7076 1.161 1.346 1.558 1.801 2.079 2.397 2.759 3.1723.642 4.177 5.474 | 7.1388.137 1.173 1373 1.605 1.873 2.183 2540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1.184 1.400 1.653 1.948 2292 2693 3.159 3.700 4.328 5.0546.8669 276 10.76 1.196 1.428 1.7022026 2.407 28543.380 3.996 4.717 5.560 7690 10.58 12.38 1.208 1.457 1.754 2.107 2527 3.026 3.617 4 316 5.142 6.116 8.613 12.06 14.23 1.220 1.486 16 37 1.806 2.1912.653 3.2073.870 4.661 5.6046.727 9.646 13.74 1.232 1.516 1.860 2.279 2786 3.400 4.141 5.034 6.1097.400 10.80 15.67 18.82 1.245 1.546 12.10 17.86 21.64 1.916 2370 2.925 3.604 4.430 5.437 6.659 8.140 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 AA NA Print Done Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 1.184 1.400 1.653 1.948 2292 2693 3.159 3.700 4 328 5.0546 866 9.276 10.76 1.196 1.428 1.7022026 2.407 2.854 3.380 3.9964717 5.560 7.690 10.58 12.38 1.208 1.457 1.754 2.1072 527 3.0263617 4 316 5.142 6.116 8.613 12.06 14.23 1.220 1.486 1.806 2.191 2.653 3.2073.870 4.661 5.604 6727 9.646 1374 16.37 12321516 1.86022792.786 3.400 41415.034 6.109 7.400 1080 15.67 18,82 1.245 1.546 1.916 2.370 2.925 3.6044430 5.437 6,659 8.140 12.10 17.86 21 64 1.257 1.5771.974 2.465 3.072 3.8204741 58717.258 8.954 13 55 20.36 24.89 1270 1.608 2.033 2.563 3.225 4.049 5.0726 341 7.911 9.850 15.18 23 21 28.63 1.282 1.641 2.094 2.666 3.386 4 2925.427 6.848 8.623 10.83 17.00 26.46 32.92 1.295 1,673 2.157 2.772 3.556 4549 | 5.80773969.399 11.92 19.04 30.1737 86 1.308 1.707 2.221 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 3439 43.54 1.321 1.741 2.288 2.999 3.920 5.112 6.649 8.627 11.17 14.4223 88 39.20 50.07 1.335 1776 2.357 3.119 4.116 5.4187114 9 317 12.17 15.86 26.75 44.69 57 58 1.348 1.811 2.427 3.243 4.322 5.743 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 14.97 21.72 31.41 45.26 93.05 188.9 267.9 1.645 2.692 4.384 7.107 11.47 18.42 29.46 46.90 74 36 1174 289.0 700.2 1,084 Period 26 Period 27 Period 28 Period 29 Period 30 22 Period 40 Period 50 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 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 2010 2020 2030 2040 2050 2060 2.070 2.080 2090 2.100 2.1202140 2 150 3.030 3.060 3.091 3.122 3.153 3.1843.215 3.246 3.278 3.310 3.374 3.440 3.473 4.060 4.122 4.184 4.246 4310 4.375 4.440 4.506 4573 4.641 4.7794921 4.993 5.101 52045.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6,353 6.610 6.742 6.152 6,308 6.468 6.633 6.8026.9757.1537.336 7523 7.716 8.115 8.536 8.754 7214 7.4347.662 7.898 8.1428.394 8.654 8.923 9200 9.487 10.09 10.73 11.07 8.286 8.583 8.8929.2149.549 9.897 10.260 10.64 11.03 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 13.58 14.78 16.09 16.79 10.46 10.95 11.46 12.01 | 12.58 13.18 13.82 14.49 15.1915.94 1755 19.34 20.30 11.57 12.17 12.8113.49 14.21 14.97 15.78 16.65 1756 18.53 20.65 23.04 24.35 1268 13.41 14.19 15.03 15.92 16.87 17.8918.98 20.14 21.38 24.13 27 27 29.00 13.81 14.68 15 62 16.63 1771 18.88 20.14 21.50 22.95 | 24.52 28.03 32.09 34 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 29.36 31.77 37 28 43.84 47.58 17.26 18.64.) 20.16 21.82 23.66 25.67 27 89 30.32 33.00 35.95 4275 50.98 55.72 18.43 20.01 21.76 23.70 25.84 28.21 30 84 33.75 36.97 40.54 48.88 59.12 65.08 19.61 21.41 23.41 2565 28 13 30.91 34.00 37 4541.30 45.60 55.75 68.39 75.84 20.81 22.84 25.12 27.67 30.54 | 33.76 37 38 41.45 46.02 51.16 63.44 78.9788.21 22.02 24.30 26.87 29 78 33.07 36.79 41.00 45.76 51.16 5728 72.05 91.02 1024 23 24 25.7828.68 31.97 35.72 39.99 4487 50.42 56 76 64 00 81.70 104.8 118.8 24.47 27 30 30.543425 38.51 433949.01 55.46 62.877140 92.50 120.4 1376 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 AFT Print Done . V.VI LUU VI JU HU JU 01:10 140 120 31.0 IV. Period 21 Period 22 Period 23 Period 24 Period 25 Period 26 Period 27 Period 28 Period 29 Period 30 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 24.47 27 30 30.5434.25 38.51 43.3949.01 5546 6287 71.40 92.50 120.4 1376 25.72 28.85 32.45 36.62 41.43 47.00 53 44 60.89 69.53 79.54 104.6 138.3 159.3 26.97 30.42 34.43 39.08 44.50 50.82 58 18 66.76 76.7988.50 118.2 158.71842 28.243203 36.4641.65 4773 54.86 63.25 73.11 84.70 98,35 1333 181.9 2128 29.53 33.67 38.55 44.31 51.11 59.16 68 68 79.95 93.32 109.2 150.3 2083 245.7 30.82 35.34 40.71 47.08 54.6763.71 74.48 87 35 1027 121.1 169.4 238.5 283.6 32.13 37.05 42.93 49.97 58.406853 | 80.70 95.34 113.0 134.2 190.7272.9 3271 33.45 38.79 45.22 52.97 62.3273.64 | 87 35 104.0 1241 1486 214.6 312.1 3772 34.78 40.57 47.58 56.08 66.44 | 79.06 94.46 113.3 136.3 164.5 2413 356.8 434.7 48.89 60.40 75.40 95.03 | 120.81548 1996 259.1 337 9 4426767113421.779 64.46 84.58 1128 1527 2093 290.3 4065 573.8 815.11.164 2,400 4,9957,218 Period 40 Period 50