Homework: Homework 6 Save Score: 0 of 1 pt 34 of 45 (34 complete) HW Score: 70.29%, 32 33 of 46 pts X End of Chapter A.6 Question Help In early 2019, the Powerball lottery was advertised as having a payoff of S750,000,000. The winner was given the choice of receiving S465,500,000 at once or equal annual payments over the next 30 years that would total $750,000,000. Assume that the winner receives each of the equal annual payments as a lump sum payment at the end of each year Source: Zack Friedman, "Do This Next if You Win the $750 Million Powerball Jackpot," forbes.com, March 25, 2019. (This question is difficult and requires the use of a financial calculator or a spreadsheet Hint If you are familiar with the Excel spreadsheet program questions and c can be answered by using the Excel PV (Present Value) function and questond can be answered using the RATE function) a. Is the lattery being accurate in stating that the winner will receive $750,000,000? Briefly explain A. Yes, because $750 million is the total amount that will be paid out OB. Yes, the timing of the payments allows the $750 milion to be considered a present value OC. No, because the payments are made at the end instead of the beginning of each year D. No, because $750 million is the sum of payments over the years, not the present value of the payments b. At an interest rate of 11 percent, what would be the present value of the 30 payments ? Enter your answer in the answer box and then click Check Answer 2 parts remaining Cear A Check Answe Yoga Video Assign.docx arch B E Oo 17 hp ? Source: Zack Friedman, "Do This Next if You Win the $750 Million Powerball Jackpot," forbes.com, March 25, 2019. (This question is difficult and requires the use of a financial calculator or a spreadsheet. Hint: If you are familiar with the c can be answered by using the Excel PV (Present Value) function and question d can be answered using the RATE fu a. Is the lottery being accurate in stating that the winner will receive $750,000,000? Briefly explain. O A. Yes, because $750 million is the total amount that will be paid out. O B. Yes, the timing of the payments allows the $750 million to be considered a present value. OC. No, because the payments are made at the end instead of the beginning of each year. D. No, because $750 million is the sum of payments over the years, not the present value of the payments. b. At an interest rate of 11 percent, what would be the present value of the 30 payments? The present value is $(Enter your response rounded to the nearest penny.) Enter your answer in the answer box and then click Check Answer 2 parts remaining Clear All eo A..do w Yoga Video Assign....docx Open file here to search o a > hp 96 Save Score: 0 25 of 1 pt HW Score: 80.8% 37.17 of 46 pts % End of Chapter A.6 Question Help In early 2019. the Powerball lottery was advertised as having a payoff of $750,000,000. The winner was given the choice of receiving 5465,500,000 at once or equal annual payments over the next 30 years that would total 5750.000.000. Assume that the winner receives each of the equal annual payments as a lump-sum payment at the end of each year Source: Zack Friedman, "Do This Next If You Win the $750 Mion Powerball Jackpot," forbes.com, March 25, 2018 (This question is difficult and requires the use of a francia calculator or a spreadsheet Hint if you are familiar with the Excel spreadsheet program questions and e can be answered by using the Excel PV (Present Value) function and question can be answered using the RATE function) a. Is the lottery being accurate in stating that the winner will receive 5750.000.000? Briefly explain Yes, because $750 million is the total amount that will be paid out Yes, the timing of the payments allows the $750 milion to be considered a present value No, because the payments are made at the end instead of the beginning of each year No because $750 milion is the sum of payments over the years not the present value of the payments b. At an interest rate of 11 percent what would be the present value of the 30 payments The present value is renter our responderourded to the newest porn) Enter your answer in the box and then cho Check Anssen 2 sue old dial will be paid OUL B: Yes, the timing of the payments allows the $750 million to be considered a present value No, because the payments are made at the end instead of the beginning of each year. D. No, because $750 million is the sum of payments over the years, not the present value of the payments. b. At an interest rate of 11 percent, what would be the present value of the 30 payments? The present value is $(Enter your response rounded to the nearest penny) Enter your answer in the answer box and then click Check Answer Clear All 2 parts remaining Yoga Video Assignidocx arch O a
