Mike has won the Illinois state lottery. He must decide whether to receive annual payments of $150,000 at the beginning of each year for the next 10 years, or a lump sum payout. What lump sum amount does David need to receive (now) to equal the $150,000 payments for the next 10 years, if he can earn an 8% return on his Investments? Tir idering purchasing a new car fro $13,000. The dealer is offering 2 options on the purchase Option 1: Receive $750 rebate on the price of the car and finance the balance over 5 years at 4% interes Option 2. Finance the vehicle for 6 years at 0% Interest but no interest. Question: What is the monthly payment of option 2