Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options:

A Data Table 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 8% on your funds, which option would you prefer? Option #1: $15,000,000 after five years Option #2: $2,150,000 per year for five years Option #3: $13,000,000 after three years The present value of the payout is: (Round your answers to the nearest whole dollar) Option #1: Option #2: Option #3: Print Done (Enter your answer as a numerale.g., 1.) has the highest present value using the 8% discount rate. Therefore, it appears to be the most Payout Option# favorable option. Enter any number in the edit fields and then continue to the next question Ai Reference Present Value of $1 Periods 6% 0.943 0.890 0.840 0.792 0.747 1% 2% 3% 4% 5% 0.990 0.980 0.971 0.962 0.952 0.980 0.961 0.943 0.925 0.907 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.951 0.906 0.863 0.822 | 0.784 0.942 0.888 0.837 0.790 0.746 0.933 0.871 0.813 0.760 | 0.711 0.923 0.853 0.789 0.731 0.677 0.914 0.837 0.766 | 0.703 | 0.645 0.905 0.820 0.744 0.676 | 0.614 0.896 0.804 0.722 0.650 0.585 0.887 0.788 0.701 0.625 0.557 0.879 0.773 0.681 0.601 0.530 0.870 | 0.758 0.661 0.577 0.505 0.861 0.743 0.642 | 0.555 0.481 0.853 0.7280.623 0.534 0.458 0.844 0.714 0.605 0.513 0.436 0.705 0.665 0.627 0.592 0.558 0.527 0.497 0.469 0.442 0.417 0.394 0.371 7% 8% 0.935 0.926 0.873 0.857 0.816 0.794 0.763 0.735 0.713 0.681 0.6660.630 0.623 0.583 0.5820.540 0.544 0.500 0.508 0.463 0.475 0.429 0.444 0.397 0.415 0.368 0.388 0.340 0.362 0.315 0.3390.292 0.317 0.270 9% 0.917 0.842 0.772 0.708 0.650 0.596 0.547 0.502 0.460 0.422 0.388 0.356 0.326 0.299 | 0.275 0.252 0.231 10% 0.909 0.826 0.751 0.683 0.621 0.564 0.513 0.467 0.424 0.386 0.350 | 0.319 | 0.290 0.263 0.239 0.218 0.198 12% 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 0.287 0.257 0.229 0.205 0.183 0.163 0.146 14% 0.877 0.769 0.675 0.592 0.519 0.456 0.400 0.351 0.308 0.270 0.237 0.208 0.182 0.160 0.140 0.123 0.108 15% 16% 18% 20% 0.870 0.862 0.847 0.833 0.756 0.743 0.7180.694 0.658 0.641 0.609 0.579 0.572 0.552 0.516 0.482 0.497 0.476 0.437 0.402 0.432 0.410 0.370 0.335 0.376 0.354 0.314 0.279 0.327 0.305 0.266 0.233 0.284 0.263 0.225 0.194 0.247 0.227 0.191 0.162 0.215 | 0.195 0.162 0.135 0.187 | 0.168 0.137 | 0.112 0.163 0.145 0.116 | 0.093 0.141 0.125 0.099 0.078 0.123 0.108 0.084 0.065 0.107 0.093 0.071 0.054 0.093 0.080 | 0.060 0.045 Print Done i Reference Periods 20% 0.833 1.528 2. 106 2.589 2.991 3.326 5.582 4.288 3.605 1% 2% 3% 4% 5% 0.990 0.980 0.971 0.962 0.952 1.970 1.942 1.9131.886 1.859 2.9412.884 2.829 2775 2.723 3.902 3.808 3.717 3.630 3.546 4.853 4.713 4.580 4.452 4.329 5.795 5.601 5.417 5.242 5.076 6.728 6.472 6.230 6.002 5.786 7.652 | 7.325 7.020 6.733 6.463 8.566 8.162 7.786 7.435 7.108 9.471 8.983 8.530 8.111 7.722 10.368 9.787 9.253 8.760 8.306 11.255 10.575 9.954 9.3858.863 12.134 | 11.348 10.635 9.986 9.394 13.004 | 12.106 | 11.296 | 10.563 9.899 12.849 11.938 11.118 10.380 13.578 12.561 11.652 10.838 14.292 13.166 12.166 11.274 Present Value of Ordinary Annuity of $1 6% 7% 8% 9% 10% 0.943 0.935 0.926 0.917 0.909 1.833 1.8081.783 1.759 1.736 2.673 2.624 2.577 2.531 2487 3.465 3.387 3.312 3.240 3.170 4.212 4.100 3.993 3.890 3.791 4.917 4.767 4.623 4.486 4.355 5.389 5.206 5.033 4.868 6.210 5.971 5.747 5.535 5.335 6.802 6.515 6.247 5.995 5.759 7.360 7.0246.710 6.418 6.145 7.887 7.499 7.139 | 6.805 6.495 8.384 7.943 | 7.536 7.161 6.814 8.853 8.358 7.904 7.487 7.103 9.295 8.745 8.244 7.367 9.712 9.108 8.559 8.061 7.606 10.106 9.447 8.851 8.313 7.824 10.477 9.763 9.122 8.544 8.022 12% 14% 15% 16% 0.893 0.877 0.870 0.862 1.6901.647 1.626 1.605 2402 2.322 2283 2 246 3.037 2.914 2.855 2.798 3.605 3.433 3.352 3.274 4.111 3.889 3.784 3.685 4.564 4.160 4.039 4.968 4.639 4.487 4.344 5.328 4.946 | 4.772 4.607 5.650 5.216 5.019 4.833 5.938 5.453 5.234 5.029 6.194 5.660 5.421 5.197 6.424 5.842 5.583 5.342 6.628 6.002 5.724 5.468 6.142 5.847 5.575 6.974 6.265 5.9545.669 7.120 6.373 6.047 5.749 18% 0.847 1.566 2.174 2.690 3.127 3.498 3.812 4.078 4.303 4.494 4.656 4.793 4.910 5.008 5.092 5.162 5.222 3.837 4.031 | 7.786 4.192 4.327 4.439 4.533 4.611 4.675 | 4.730 4.775 6.811 Print Done Reference Future Value of $1 Periods 5% 1.050 1.103 1.158 1.216 1.276 1.340 9% 1.090 1.188 1.295 1.412 1.539 1.125 1.170 1.265 1.407 1.477 1% 2% 3% 4% 1.010 1.020 1.030 1.040 1.020 1.040 1.061 1.082 1.030 1.061 1.093 1.041 1.0821.126 1.051 1.104 1.159 1.217 1.062 1.126 1.194 1.072 1.149 1.230 1.316 1.083 1.172 1.267 1.369 1.094 1.195 1.305 1.423 1.105 1.219 1.344 1.480 1.116 1.243 1.384 1.539 1.127 1.268 1.426 1.601 1.138 1.294 1.469 1.665 1.149 1.319 1.513 1.732 1.161 1.346 1.558 1.801 1.1731.373 1.605 1.873 1.184 1.400 1.653 | 1.948 1.551 1.629 6% 7% 8% 1.060 1.070 1.080 1.124 1.145 1.166 1.191 1.225 1.260 1.2621.311 1.360 1.338 1.403 1.469 1.419 1.501 1.587 1.504 1.606 1.714 1.594 1.7181.851 1.689 1.838 1.999 1.791 1.967 | 2.159 1.898 2.105 2.332 2012 2.252 2.518 2.133 2410 2.720 2.261 2.579 2.937 2.397 2.759 3.172 2.540 2952 3.426 2.693 3.159 3.700 10% 12% 14% 15% 1.100 1.120 1.140 1.150 1.210 1.254 | 1.300 1.323 1.331 1.405 1482 1.521 1.464 1.574 1.689 1.749 1.611 1.762 1.925 2011 1.772 1.9742.195 | 2.313 1.949 2211 | 2502 2.660 2.144 2.476 2853 3.059 2.358 2.773 3.252 3.518 2.594 3.106 3.707 4.046 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 7.076 4.177 5.474 | 7.138 8.137 4.595 6.130 8.137 9.358 5.0546.866 9.276 10.76 1.677 1.828 1.993 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 1.710 1.796 1.886 1.980 2079 2.183 2.292 Print Done i Reference Periods 1% 2% 1.000 1.000 2010 2020 3.030 3.060 4.060 4.122 5.101 5.204 6.152 6.308 7.214 7.434 8.286 8.583 9.369 9.755 10.46 10.95 11.57 12.17 12.68 13.41 13.81 14.68 14.95 | 15.97 3% 1.000 2030 3.091 4.184 5.309 6.468 7.662 8.892 10.16 11.46 12.81 14.19 15.62 17.09 18.60 20.16 21.76 Future Value of Ordinary Annuity of $1 4% 5% 6% 7% 8% 9% 1.000 1.000 1.000 1.000 1.000 1.000 2040 2050 2060 2070 2.080 | 2090 3.122 3.153 | 3.1843.215 3.246 3.278 4.246 4.310 4.375 4.440 4.506 4.573 5.416 5.526 5.637 5.7515.867 5.985 6.633 6.802 6.9757.153 7.336 7.523 7.898 8.142 8.394 8.654 8.923 9.200 9.214 9.549 9.897 10.260 10.64 11.03 10.58 11.03 11.49 11.98 12.49 13.02 12.01 12.58 13.18 13.82 14.49 15.19 13.49 14.21 | 14.97 15.78 15.03 15.92 16.87 17.89 18.98 20.14 16.63 17.71 18.88 20.14 22.95 18.29 19.60 21.02 22.55 26.02 20.02 29.36 21.82 23.70 25.84 28.21 30.84 33.75 36.97 10% 1.000 2.100 3.310 4.641 6.105 7.716 9.487 11.44 13.58 12% 1.000 2.120 3.374 4.779 6.353 8.115 10.09 12.30 14.78 14% 1.000 2.140 3.440 4.921 6.610 8.536 10.73 13.23 16.09 19.34 15% 1.000 2.150 3.473 4.993 6.742 8.754 11.07 13.73 16.79 24.13 28.03 16.10 17.29 33.00 17.2618.64 20.01 18.43 40.54 Print Done