payout alternatives. You $1 million lottery. You have been presented with the following have to decide which one to accept (show by calculations): $1 million today . $2 million lump sum in 8 years e $3 million lump sum in 15 years Which payout option investment portfolio? should you choose,ifyou can earn 10% per year on your (6%) b) You estimate that you will need about $80,000 to send your child to college eight years from now. You have about $35,000 now. At what interest rate wil you just reach your goal? (796) worth today using a How much is $1,000,000 to be received 30 years from now discount rate of 5% per year? c) (696) d) You now have $25,000 to be deposited in an account paying 6% annual interest. How much would you have in the account 30 years from now assuming: i) monthly compounding? ii) quarterly compounding ii) annual compounding? (6%)