Congratulations! You won the lottery, and you are offered $1$ of $3$ options.

Option $1$: You get a lump sum of $$10$ million dollars today.

Option $2$: You get $$1$ million dollars every year, for the next $15$ years starting today.

Option $3$: Receive a lump sum of $$4$ million dollars today and $$600,000$ every year for the next $15$ years starting at the end of year $1.$

For all $3$ of these options, you believe that you could invest your money with an interest rate of $7\%$ and it would be compounded annually.

First create an excel document showing the calculations for either the present value or future value of all $3$ options.

Then write a discussion post explaining your calculations and which option you would choose and why.

Please make sure to attach your excel document to your post for full credit.

Hint: Use the Present Value Formula: $=-$PV$($Rate$,$ Number of Payments, Payment, Future Value$)$

OR

Use the Future Value Formula: $=-$FV$($Rate$,$ Number of Payments, Payment, Present Value$)$