Mike has a huge problem. He scratched off a lottery ticket, won the jackpot of $50000. The lottery informs him that he will recieve five annual payments of $10000. As this sinks in, a bookie named Johny offered to buy Mikes lotttery ticket for $45000 in a lump sum. If in either case Mike were to deposit the winnings into a savings account paying 2% compounded annually, how much money would Mike have by the fifth year (at the moment the lottery folks pay off the last $10000) in each scenario? Round the answers to the nearest cent.

$_________ if Mike accepts Johnys offer

$_________ If Mike refuses Johnys offer.

Is Johny making Mike an offer he cant't afford to refuse? Yes or No______.