Future Value of Annuity.Jesse has just learned that she won $1 million in her state lottery. She has the choice of receiving a lump-sum payment of

$312 comma 950312,950

or

$50 comma 00050,000

per year for the next 20 years. Jesse can invest the lump sum at

8 %8%,

or she can invest the annual payments at

66%

per year. Which should she choose for the greatest return after 20 years?

If Jesse choose the lump-sum option, after 20 years she would have

$