Present and future value tables of $1 at 3% are presented below: N 1 2 3 4 5 6 FV $1 PV 51 1.03000 0.97087 1.06090 0.94260 1.09273 0.91514 1. 12551 0.88849 1. 15927 0.86261 1.19405 0.83748 1.22987 0.81309 1.26677 0.78941 1.30477 0.76642 1.34392 0.74409 1.38423 0.72242 1.42576 0.70138 1.46853 0.68095 1.51259 0.66112 1.55797 0.04186 1.60471 0.62317 ONSSSSale FVA $1 PVA $1 1.0000 0.97087 2.0300 1.91347 3.0909 2.82861 4.1836 3.71710 5.3091 4.57971 6.4684 5.41719 7.6625 6.23028 8.8923 7.01969 10.1591 7.79611 11.4639 8.53020 12.8078 9.25262 14. 1920 9.95400 15.6178 10.63496 17.0863 11.29607 18.5089 11.93794 20.1509 12.56110 FVAD $1 PVAD S1 1.0300 1.00000 2.0909 1.97087 3. 1836 2.91347 4.3091 3.82861 5.4684 4.71710 6.6625 5.57971 7.892a 6.41719 9.1591 7.23028 10.4639 8.01969 11.8078 8.78611 13.1920 9.53020 14.6178 10.25262 16.0863 10.95400 17.5089 11.63496 19.1569 12.29607 20.7616 12.93794 10 12 13 14 15 16 Jose wants to cash in his winning lottery ticket. He can either receive seven, $3,000 annual payments starting today, or he can receive one lump sum payment today based on a 3% annual interest rate. What would be the lump sum payment? Saved Help Save & Exit 14 15 1.5125 1.55797 1.60.1 66112 8.64186 0.62317 17.0863 18.5989 20.1569 11.29607 11.93794 12.56110 17.5989 11.63496 19.1569 12.29607 20.7616 12.93794 16 Jose wants to cash in his winning lottery ticket. He can either receive seven, $3,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% annual interest rate. What would be the lump-sum payment? Multiple Choice $17,531, O 519,252 $18.691 516,970