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Jane has won the lottery. Jane can choose between these options. Have $10,000 today, $20,000 four years from today, and $30,000 six years from today.
Jane has won the lottery. Jane can choose between these options. Have $10,000 today, $20,000 four years from today, and $30,000 six years from today. Or Jane can receive the winnings as a 10-year annunity with the first payment received 10 years from today. Jane requires a 6% return on her investment, how much must the annunity pay Jane each year for Jane to select that option.
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