Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options: D (Click the icon to view the payout options.) (Click the icon to view Present Value of $1 table.) 9 (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 10% 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: Option #1: $14,000,000 after five years Option #2: $2,200,000 per year for five years Option #3: $12,000,000 after three years Present Value of $1 Periods| 1% | 2% | 3% 14% 15% 16% 7% 8% | 9% 10% | 12% 14% 15% | 16%|18% | 20% 10.990 0.980 0.9710.96210.9520.94310.9350.926 0.9170.9090.893 0.87 0.870 0.862 0.847 0.833 b.9800.9610.9430.9250.907 0.8900.8730.8570.8420.8260.797 0.769|0.756 0.743 0.718 0.694 b.9710.9420.9150.8890.8640.84010.8160.7940.77210.7510.7120.675 0.658 0.6410.609 0.579 b.9610.9240.8880.8550.8230.7920.7630.7350.7080.68310.636 0.592 0.572 0.552 0.516 0.482 5 6.951 5.906 0.8636.822 10.784 10.74716.71310.68110.650 0.62]0.567 10.519 0.497 0.476 0.437 0.402 6 b.94210.8810.8376.79010.74610.705 0.666.63010.596 0.56410.507 0.456 0.432 0.41010.370 0.335 [0.9330.8710.8130.760 0.7110.665 0.6230.5830.547|0.513|0.4520.400 0.3760.354 0.314 0.279 0.9230.8536.7890.7310.6770.6270.5820.540 0.5026.4670.404 0.3510.327 0.305 0.266 0.233 10.9140.837]b.7660.70310.6450.59210.5440.500 0.46010.4240.3610.308 0.284 0.263 0.225 0.194 10.905 0.820 0.7440.6760.6140.558 0.50810.46310.42210.386 0.3220.270 0.247 0.227 0.1910.162 0.8960.804 0.7220.650 0.5850.527 0.4750.4290.3880.3500.2870.2370.2150.1950.1620.135 2 0.8876.788 0.7010.625 0.5570.497 0.4440.397 0.356 0.31910.257 0.208 0.187 0.168 0.137 10.112 [0.879]b.7730.6810.6010.530 0.4690.4150.3680.3260.290 0.2290.1820.163 0.1450.116 0.093 0.8700.7580.66110.5770.5050.4420.3880.34010.2990.26310.205 0.160 0.1410.125 0.099 0.078 0.8610.74310.6420.5550.4810.4170.3620.3150.2750.239|0.1830.140 0.1230.108 0.0840.065 16 6.85310.72810.6230.534 0.458 0.394 0.33910.29210.25210.21810.163 0.123 0.107 0.093 0.07110.054 0.8440.7140.6050.5130.4360.3710.3176.270 0.2310.1980.146 0.108 0.093 0.080 0.060 0.045 |o.8360.700|0.5870.4940.4160.350 0.2960.250 0.2120.1800.1300.0950.0810.069 0.0510.038 19 0.828 0.6860.5700.4750.396 0.33110.2776.23210.1940.16410.116 0.083 0.070 0.060 0.0430.031 20 0.820 0.67310.5540.45610.3770.31210.2580.2150.178 0.14910.104 0.073]o.061 0.051 0.037 0.026 0.8110.660 0.5386.4390.3590.2940.242b.199b.1640.1350.093 0.064 0.053 0.044 0.0310.022 |o.803]b.647]b.5220.4220.3420.2780.2260.1840.1500.1230.0830.056 0.046 0.0380.026 0.018 b.7950.6340.507 0.406 0.3260.26210.2110.1706.1380.112]0.0740.0490.040 0.033 0.022 0.015 10.78810.62216.49210.390 lb.3106.247b.1976.1586.1260.102]0.066|0.0430.0350.028|0.019|0.013 25 0.780 0.61010.4780.37510.295 0.23310.1840.14610.116 0.09210.059 0.038 0.030 0.024 0.016 0.010 26 6.772.59810.464 0.36110.28110.220.17210.135 0.106 0.084 10.053 10.033 0.026 0.021 0.014 0.00 b.7640.5860.450 0.3470.2680.2070.1610.1250.0980.0760.047 0.029 0.023 0.0180.011 0.007 10.75710.5740.4370.33310.255b.1966.15010.1166.0900.0690.0420.026 0.020 0.016|0.010 0.006 b.7490.5630.4246.3210.2430.1850.1410.107 0.0820.0630.037 0.022 0.017 0.014]0.008 0.005 b.74210.55210.41210.308 0.231 0.1740.1310.0990.0750.057 0.033 0.020 0.015 0.012 10.007 0.004 | 0.67210.4530.307 0.208 0.142 0.07 0.067 0.046 0.032 0.022 0.01 0.005 0.004 0.003 0.001 001 50 b.soso.3726.228 0.41 0.08710.054 0.034 0.021 0.013 0.00g po03 0.00 0.001 0.01 | BUBB a888888 Future Value of $1 IPeriods) 1% | 2% | 3% | 4% | 5% | 6% 17% | 8% | 9% | 10% | 12% 14% 15% | 11.0101.020]1.0301.040]1.0501.060|1.0701.0801.090]1.100]1.120]1.140]1.150 2 | 1.0201.0401.0611.082]1.1031.1241.1451.166]1.188]1.210]1.254|1.3001.323 1.0301.061|1.093]1.125]1.1581.191|1.225]1.260]1.2951.33111.4051.482]1.521 11.041]1.0821.126]1.170]1.2161.2621.3111.360]1.412]1.464]1.5741.689]1.749 1.051]1.104|1.1591.217]1.276|1.338|1.4031.469|1.539] 1.611 1.762]1.925]2.011 |1.062]1.1261.194|1.265]1.3401.419|1.501/1.587]1.6771.772]1.974|2.195|2.313 1.072]1.149]1.230]1.3161.407]1.504|1.6061.7141.82811.949|2.211|2.502/2.660 11.083]1.171.267]1.369]1.477]1.594|1.7181.851]1.993|2.144|2.476]2.853]3.059 11.0941.195]1.305]1.4231.551/1.6891.8381.999|2.172]2.358]2.773/3.252/3.518 1.105]1.219]1.344|1.480]1.629]1.791|1.967|2.159]2.367]2.594|3.106]3.707]4.046 1.1161.2431.384|1.5391.7101.89802.105/2.3322.58o|2.853/3.479|4.226]4.652 1.127|1,268]1.426]1.601/1.796l2.0122.2522.518/2.8133.1383.896]4.81815.350 11.138]1.294|1.469]1.665]1.886]2.133]2.4102.7203.066]3.452]4.363|5.492]6.153 11.149]1.31915131.732]1.980]2.261|2.579|2.937]3.342]3.798]4.887]6.2617.076 11.161|1.346]1.558]1.801|2.079]2.397]2.759 3.172]3.642]4.177]5.4747.138/8.137 11.173]1.373]1.605]1.873]2.183]2.540]2.952]3.426]3.970]4.595|6.130]8.137]9.358 |1.184|1.400|1.653]1.948]2.292]2.693]3.1593.700]4.328 5.054 6.866 9.276]10.76 11.196]1.4281.702]2.026]2.407]2.85413.380/3.996]4.717|5.560]7.690]10.58 12.38 11.208]1.457]1.754|2.107]2.527]3.02613.617|4.316l5.142]6.1168.613112.06114.23 1.220]1.486]1.806]2.191|2.653/3.207]3.870]4.661|5.604 6.727]9.646113.74|16.37 |1.232]1.516]1.86o|2.279]2.786]3.400]4.141|5.034]6.109|7.400 10.80 15.6718.82 |1.245]1.5461.916l2.3702.9253.60414.4305.437|6.659 8.140]12.1017.86/21.64 1.257]1.5771.974|2.465/3.07213.82014.74115.87117.258|8.954113.55|20.36|24.89 (1.2701.608]2.033|2.563/3.225/4.0495.0726.341|7.911 9.850 15.18|23.21 25 |1.282/1.641|2.094|2.666|3.386|4.2925.4276.848|8.623 10.83 17.00 26.46|32.92 1.295]1.673]2.157]2.772/3.556]4.549|5.807|7.396l9.399|11.92 19.04|30.17137.86 11.308]1.707|2.221|2.883/3.73314.8226.2147.98810.25|13.11/21.32/34.39|43.54 11.321]1.741|2.288]2.999/3.9205.1126.649|8.627|11.17|14.42|23.88|39.20|50.07 11.335]1.776l2.357|3.119]4.116|5.4187.114|9.317|12.17|15.86|26.75|44.69|57.58 1.3481.811 |2.427]3.243]4.322)5.7437.612]10.0613.27|17.45|29.9650.95 66.21 1.489|2.208|3.2624.801|7.040 10.29|14.97|21.72]31.4145.26l93.05|188.9/267.9 50 1.645 2.69214.38417.107111.47|18.42 29.46 46.9074.36| 117.4 289.0 700.211,084 Ovow Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% | 0.990 | 0.9800.971 0.962 0.952|0.9430.935 0.9260.917 10.909|0.893|0.877|0.870 0.8620.8470.833 | 1.970 | 1.942 1.913|1.886 1.859 | 1.8331.808 1.783 1.759 1.736 1.6901.647|1.626|1.605|1.566|1.528 2.9412.8842.8292.775 2.723 2.6732.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.902 3.808 3.7173.630 3.546 3.465 3.3873.3123.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 4.853 4.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433|3.352 3.274 3.127 2.991 5.795 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 3.889 3.784|3.685 3.498 3.326 5.389 5.2065.033 4.8684.564|4.288|4.160|4.039|3.812 3.605 7.652 7.325 7.020 6.7336.463 6.210 5.971 5.747 5.535 5.335 4.968 4.639 4.487 4.344 4.078|3.837 8.566 8.1627.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.3284.9464.772 4.607 4.303 4.031 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.7879.253 8.760 8.306 7.887 | 7.499 7.139 6.805 6.495 5.938 5.4535.234 5.029 4.656 4.327 11.255 10.575 9.954 9.385 8.863 8.384 7.943 | 7.5367.161 16.8146.1945.660 5.421 5.197 4.793 4.439 12.134 11.348 10.635 9.986 9.3948.853 8.358 7.9047.487 7.103 6.424 5.8425.583 5.342 4.910 4.533 [13.004|12.106|11.296 10.563 9.899 9.295 | 8.745 | 8.2447.786 17.3676.6286.002 5.724 5.468|5.008|4.611 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 14.718 13.578 12.561 11.652 10.838 10.106 9.447 8.851 8.313 7.8246.9746.265 5.954 5.669 5.162 4.730 17 15.562 14.292 13.16612.16611.274 10.477 9.763 9.122 8.544 8.022 7.1206.3736.047 5.749 5.222 4.775 16.398 14.992 13.754 12.659 11.690 10.828 10.059 9.372 8.7568.201 7.250 6.467 6.128 5.818 5.273 4.812 19 17.226 15.678 14.32413.134 12.08511.15810.336 9.604 8.950 8.3657.3666.5506.198 5.877 5.316 4.844 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 18.857 17.011 15.415 14.02912.821 11.76410.836 10.017 9.292 8.649 7.5626.6876.312 5.973 5.384 4.891 19.660 17.658 15.937|14.451 13.163 12.042 11.061 10.2019.4428.772 7.6456.7436.359 6.0115.410 4.909 20.456 18.292 16.444 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 6.792 6.399 6.044 5.432 4.925 21.24318.914 16.936 15.247 13.79912.550 11.469 10.529 9.707 8.985 7.7846.8356.4346.073 5.451 4.937 25 22.02319.52317.413 15.622 14.094 12.783 11.654 10.675 9.8239.077 7.8436.8736.464 6.097 5.4674.948 22.795|20.12117.877 15.983 14.37513.003 11.826 10.810 9.929 9.161 7.896 6.906 6.491 6.118 5.480 4.956 23.560 20.707 18.327 16.33014.643 13.211|11.987 10.935 10.027 9.2377.9436.9356.514 6.136 5.492 4.964 24.316 21.28118.764 16.66314.89813.406 12.137 11.051 10.116 9.307 7.9846.9616.534 6.152 5.502 4.970 25.066 21.844 19.188 16.984 15.14113.591 12.278 11.158 10.198 9.370 8.0226.9836.551 6.166 5.510 4.975 25.80822.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.4278.055 7.0036.566 6.1775.517 4.979 40 32.835 27.355|23.115 19.793 17.159 15.046 13.332 11.925/10.757 9.7798.244/7.105/6.642 6.233 5.548|4.997 50 39.196|31.42425.730 21.482 18.256 15.762 13.801 12.23310.962 9.915 8.304 7.1336.6616.246 5.554 4.999 2 Future Value of Ordinary Annuity of $1 Periods 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 12.010/2.0202.0302.040 2.050 2.060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.030 3.060 3.091 3.122 3.153|3.184 3.215 3.246 3.278 3.310 3.374 3.440|3.473 14.060|4.122|4.184|4.246|4.310|4.375| 4.440 4.5064.573|4.641 4.779|4.921 4.993 5.101 5.204 5.3095.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.742 6.152 6.308 6.468 6.6336.8026.975 7.153 7.336 7.523 7.716 8.115 8.536 8.754 7 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.9239.2009.487 10.09 10.73 11.07 8.286 8.5838.892 9.214 9.549 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 13.5814.78 16.09 16.79 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.1915.94 17.55 19.34 20.30 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 12 12.6813.41 14.1915.03 15.9216.87 17.89 18.9820.14 21.38 24.1327.2729.00 13.81 14.6815.62 16.6317.71 18.88 20.14 21.50 22.95 24.52 28.03|32.09 34.35 14 14.95 15.97 17.0918.29 19.60 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 31.7737.28 43.84 47.58 17.2618.6420.16 21.8223.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 17 18.43|20.01 21.7623.7025.84128.21 30.84 33.7536.97 40.5448.8859.12 65.08 18 19.6121.4123.4125.65|28.13 30.91 34.00 37.4541.30 45.60 55.75 68.39 75.84 19 20.8122.84 25.1227.67 30.54 33.76 37.38 41.45|46.02 51.1663.44 78.9788.21 22.02 24.30 26.87 29.78|33.07 36.79 41.00 45.76 51.16 57.28 72.05 91.02 102.4 23.24 25.78 28.68 31.97 35.72 39.99 44.87 50.42 56.76 64.00 81.70 104.8 118.8 24.47 27.30 30.54 34.25 38.5143.39 49.01 55.46|62.87 71.40 92.50 120.4 137.6 25.72 28.8532.45 36.6241.43 47.00 53.44 60.8969.53|79.54 104.6 138.3 159.3 26.97 30.42 34.43 39.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 184.2 28.24 32.03|36.46|41.65 47.73 54.8663.25 73.11 84.7098.35 133.3 181.9212.8 29.53|33.67 38.55 44.31 51.11 59.16 68.68 79.95 93.32 109.2 150.3 208.3245.7 30.82 35.3440.71 47.08|54.67|63.7174.48 87.35 102.7 121.1 169.4 238.5283.6 32.13 37.0542.93|49.9758.4068.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 29 33.45|38.7945.2252.97|62.32 73.64 87.35 104.0 124.1 148.6214.6 312.1 377.2 34.78 40.57 47.58 56.08 66.44 79.06 94.46 113.3 136.3 164.5 241.3 356.8 434.7 40 48.8960.4075.40 95.03|120.8 154.8 199.6 259.1 337.9 442.6767.1 1,342 1,779 64.4684.58 112.8 152.7209.3290.3 406.5 573.8815.11,1642,400 4,995 7,218 51.16572 5/38.51 29 99 44.87