Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options: F: (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.) 3 (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.) Option #1: i Data Table Option #1: $15,000,000 after five years Option #2: $2,250,000 per year for five years Option #3: $10,000,000 after three years Print Print Done Done Present Value of $1 | Perious | 1% | 2% | 3% 4% | 5% | 6% 78 88 | 98 | 10% | 12 | 1481 15% | 168 | 18% 1 20% | 0.990 10.980 | 0.9711 0.962 10.952 | 0.943 0.935 | 0.926 | 0.917 | 0.909 | 0.893 | 0.877 | 0.870 | 0.862 | 0.847 | 0.833 0.980 | 0.961 | 0.943 | 0.925 | 0.907 | 0.890 0.873 | 0.857 | 0.842 | 0.826 | 0.797 0.769 10.756 10.743 | 0.718 | 0.694 0.971 | 0.942 | 0.915 10.889 | 0.864 | 0.840 0.816 0.794 | 0.772 | 0.751| 0.712 10.675 | 0.658 | 0.641 | 0.609 | 0.579 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 0.516 10.482 0.951 | 0.906 | 0.863 0.822 | 0.784 | 0.747 0713 | 0.681 | 0.650 0.621 | 0.567 10.519 | 0.497 | 0.476 0.437 10.402 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 10.335 0.933 0.871 | 0.813 0.760 | 0.711 | 0.665 0.623 10.583 | 0.547 ] 0.513 | 0.452 0.400 | 0.376 | 0.354 0.314 0.279 0.923 | 0.853 | 0.789 10.731 | 0.67 | 0.627 0.582 0.540 | 0.502 | 0.467 | 0.404 0.351 | 0.327 | 0.305 0.266 10.233 0.914 1 0.837 | 0.766 | 0.703 | 0.645 | 0.592 0.544 0.500 | 0.460 | 0.424 | 0.361 0.308 | 0.284 | 0.263 10.225 | 0.194 0.905 0.820 | 0.744 10.676 | 0.614 | 0.558 0.508 10.463 | | 0.422 | 0.386 | 0.322 0.270 0.247 | 0.227 | 0.191 0.162 0.896 | 0.804 | 0.722 | 0.650 0.585 | 0.527 0.475 0.429 | 0.388 | 0.350 0.287 | 0.237 | 0.215 | 0.195 | 0.162 0.135 0.887 | 0.788 | 0.701 10.625 0.557 | 0.497 0.444 0.397 | | 0.356 0.319 0.257 0.208 0.187 | 0.168 0.137 0.112 0.879 || 0.773 | 0.681 | 0.601 0.530 | 0.469 0.415 | 0.368 | | 0.326 | 0.290 0.229 | 0.182 0.163 | 0.145 0.116 10.093 0.870 | 0.758 | 0.661 | 0.57 10.505 | 0.442 0.388 0.340 | 10.299 0.263 | 0.205 10.160 | 0.141 | 0.125 0.099 10.078 0.861 || 0.743 | 0.642 | 0.555 | 0.481 | 0.417 0.362 | 0.315 | 0.275 0.239 0.183 10.140 | 0.123 | 0.108 | 0.084 0.065 0.853 | 0.728 | 0.623 | 0.534 | 0.458 | 0.394 0.339 | 0.292 | 0.252 | 0.218 | 0.163 | 0.123 | 0.107 | 0.093 | 0.071 10.054 | 0.844 | 0.714 | 0.605 | 0.513 | 0.436 | 0.371 0.317 1 0.270 10.231 | 0.198 10.146 10.108 | 0.0931 0.080 1 0.060 | 0.045 0.836 | 0.700 | 0.587 | 0.494 | 0.416 | 0.350 0.296 | 0.250 1 0.212 | 0.180 | 0.130 1 0.095 | 0.0811 0.06g | 0.051 | 0.038 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 0.820 | 0.673 10.554 | 0.456 | 0.37 | 0.312 0.258 0.215 | 0.178 | 0.149 | 0.104 | 0.073 | 0.061 | 0.051 | 0.037 0.026 0.81 | 0.660 | 0.538 | 0.439 | 0.359 | 0.294 | 0.242 10.199 | 0.164 | 0.135 | 0.093 | 0.064 | 0.053 | 0.044 | 0.031 0.022 Future Value of $1 Periods | 5% 1.050 | 1.103 1.158 1.216 1.276 1.340 2% 1.020 1.040 1.061 1.082 1.104 1.126 1.149 1.172 1.195 1.219 1.243 1.268 1.294 1.319 1.346 3% 1.030 1.061 1.093 1.126 1.159 1.194 1.230 1.267 1.305 1.344 1.384 1.426 1.469 1.513 1.558 1.407 1% 1.010 1.020 1.030 1.041 1.051 1.062 1.072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 1.173 1.184 1.196 1.208 1.220 1.232 1.477 1.551 1.629 4% 1.040 1.082 1.125 1.170 1.217 1.265 1.316 1.369 1.423 1.480 1.539 1.601 1.665 1.732 1.801 1.873 1.948 2.026 2.107 2.191 2.279 6% 1.060 1.124 | 1.191 | 1.262 | 1.338 1.419 1.504 1.594 1.689 1.791 1.898 2.012 2.133 2.261 2.397 2.540 2.693 2.854 3.026 3.207 3.400 12% 14% 1.120 1.140 1.254 1.300 1.405 1.482 1.574 1.689 1.762 1.925 1.974 | 2.195 2.211 2.502 2.476 2.853 2.7733.252 3.106 3.707 3.479 4.226 3.896 4.818 4.363 5.492 4.887 6.261 5.474 7.138 7% 8% 9% 10% 1.070 1.080 1.090 1.100 1.145 1.166 1.188 | 1.210 1.225 1.260 1.295 1.331 1.311 1.360 1.412 1.464 1.403 1.469 1.539 1.611 1.501 1.587 1.677 1.772 1.606 1.7141.828 1.949 1.718 1.851 1.993 2.144 1.8381.999 2.172 2.358 1.967 2.159 2.367 2.594 2.105 2.332 2.580 2.853 2.252 2.518 2.813 3.138 2.410 2.720 3.066 3.452 2.579 2.937 3.342 3.798 2.759 3.172 3.642 4.177 2.952 3.426 3.970 4.595 3.159 3.700 4.328 5.054 3.380 3.996 4.717 5.560 3.617 4.316 5.142 6.116 3.870 4.661 5.604 6.727 4.141 5.034 6.1097.400 15% 1.150 1.323 1.521 1.749 2.011 2.313 2.660 3.059 3.518 4.046 4.652 5.350 6.153 7.076 8.137 9.358 10.76 12.38 14.23 16.37 18.82 1.710 1.796 1.886 1.980 2.079 1.373 1.400 1.428 1.457 1.486 | 1.516 1.605 1.653 1.702 1.754 1.806 1.860 2.183 2.292 2.407 2.527 2.653 2.786 | 6.130 6.866 7.690 8.613 9.646 10.80 8.137 9.276 10.58 12.06 13.74 15.67 Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 1.970 1.942 | 1.913 1.886 | 1.859 1.833 1.8081.783 1.759 1.736 2.941 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 4.853 4.713 4.580 4.452 4.329 | 4.212 | 4.100 3.993 3.890 3.791 5.795 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 7.652 7.325 7.020 6.733 6.463 | 6.210 5.971 5.747 5.535 5.335 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 9.471 8.983 8.530 8.111 7.722 7.360 7.0246.710 6.418 6.145 10.368 9.787 9.253 8.760 8.306 7.887 | 7.499 7.139 6.805 6.495 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 12.134 11.348 10.6359.986 9.394 8.853 8.358 7.904 7.487 7.103 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.367 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 14.718 13.578 12.561 11.652 10.838 10.106 9.447 8.851 8.313 7.824 15.562 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 16.398 14.992 13.754 12.659 11.690 10.828 | 10.059 9.372 8.756 8.201 | 17.226 15.678 14.32413.134 12.085 11.158 10.336 9.604 8.950 8.365 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 12% 14% 15% 0.893 0.877 0.870 1.6901.647 1.626 2.402 2.322 2.283 3.037 2.914 2.855 3.605 3.433 3.352 4.111 3.889 3.784 4.564 4.288 | 4.160 4.968 4.639 4.487 5.328 4.946 | 4.772 5.6505.216 5.019 5.938 5.453 5.234 6.194 5.660 5.421 6.424 5.842 5.583 6.628 6.002 5.724 6.811 6.142 5.847 6.974 6.265 5.954 7.120 6.373 6.047 7.250 6.467 | 6.128 7.366 6.550 6.198 7.469 6.623 6.259 7.562 6.687 6.312 16% 18% 0.862 0.847 1.605 | 1.566 2.246 2.174 2.798 2.690 3.274 3.127 3.685 3.498 4.039 3.812 4.344 4.078 4.607 4.303 4.833 4.494 5.029 4.656 5.197 4.793 5.342 4.910 5.468 5.008 5.575 5.092 5.669 5.162 5.749 5.222 5.818 | 5.273 5.877 5.316 5.929 5.353 5.973 5.384 20% 0.833 1.528 2.106 2.589 2.991 3.326 3.605 3.837 4.031 4.192 4.327 4.439 4.533 4.611 4.675 4.730 4.775 4.812 4.844 4.870 4.891 Periods 1% 1.000 2.010 3.030 4.060 5.101 6.152 7.214 8.286 9.369 10.46 11.57 12.68 13.81 14.95 16.10 17.26 18.43 19.61 20.81 22.02 23.24 9.549 2% 1.000 2.020 3.060 | 4.122 5.204 6.308 7.434 8.583 9.755 10.95 12.17 13.41 14.68 15.97 17.29 18.64 20.01 21.41 22.84 24.30 25.78 Future Value of Ordinary Annuity of $1 3% 4% 5% 6% | 7% 8% 9% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.030 2.040 2.050 2.060 2.070 2.080 2.090 3.091 3.122 3.153 3.184 3.215 3.246 | 3.278 4.184 4.246 4.310 4.375 4.440 4.506 4.573 5.309 5.416 5.526 5.637 5.7515.867 5.985 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.662 7.898 8.142 8.394 8.654 8.923 9.200 8.892 9.214 9.897 10.260 10.64 11.03 10.16 10.58 11.03 11.49 11.98 12.49 13.02 11.46 12.01 12.58 13.18 13.82 14.49 15.19 12.81 13.49 14.21 14.97 15.78 16.65 17.56 14.19 15.03 15.92 16.87 17.89 18.98 15.62 16.63 | 17.71 18.88 20.14 17.09 18.29 19.60 21.02 22.55 26.02 18.60 20.02 21.58 23.28 25.13 27.15 29.36 20.16 21.82 23.66 25.67 27.89 30.32 33.00 21.76 23.70 25.84 28.21 30.84 33.75 36.97 23.41 25.65 28.13 30.91 34.00 | 37.45 | 41.30 25.12 | 27.67 30.54 33.76 37.38 41.45 46.02 26.87 29.78 36.79 41.00 45.76 51.16 28.68 31.9735.72 39.99 44.87 50.42 56.76 10% 1.000 2.100 3.310 4.641 6.105 7.716 9.487 11.44 13.58 15.94 18.53 21.38 24.52 27.98 31.77 35.95 40.54 45.60 51.16 57.28 64.00 12% 14% 1.000 | 1.000 2.120 2.140 3.374 | 3.440 4.779 | 4.921 6.353 6.610 8.115 8.536 10.09 10.73 12.30 13.23 14.78 16.09 17.55 19.34 20.65 23.04 24.13 27.27 28.03 32.09 32.39 37.58 37.28 43.84 42.75 50.98 48.88 59.12 55.75 68.39 63.44 78.97 72.05 | 91.02 81.70 104.8 15% 1.000 2.150 3.473 4.993 6.742 8.754 11.07 13.73 16.79 20.30 24.35 7.50 24.21 65.08 75.84 88.21 | 102.4 118.8 33.07