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Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 20 annual payments of $31,500 each. If

Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 20 annual payments of $31,500 each. If the interest rate is 4.7 percent, what is the present value of the Wild Ca$h Multiplier prize if you receive the first annual payment in exactly 6 years?

Multiple Choice $302,320.86 $320,104.44 $305,734.90 $330,774.58

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