Hello! Here is my question:

Suppose Stephanie wins the lottery and is offered a choice between a $10 million payout right now or $750,000 per year over the next 20 years (totaling $15 million in payments).

a. Suppose she believes the relevant annual interest rate is 6%, as that is what she would expect to earn if she invested the money herself. Calculate the present value of the $15 million payouts over 20 years at an interest rate of 6%.

b. What is the assumed interest rate behind the settlement offer, such that it treats $10 million today as the equivalent of $15 million over 20 years? Note: use the "brute force" method and show all of your work!

c. Given that Stephanie believes the relevant interest rate is 6%, which option should she choose?

[P.S. Please show all of your work, especially when you using formulas and making calculations. Thank you in advance!]