Mr. Kramer just won the U.S. Publishers Sweepstakes. He must decide whether to take a lump sum payment of $5,000,000 now or $500,000 at the end of each year for 25 years. If Mr. Kramer expects an interest rate of 6%, which payment plan should benefit him more?

a. $500,000 at the end of each year for 25 years

b. A lump sum payment of $5,000,000 now