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Present Value. Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 10 years or as a

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Present Value. Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 10 years or as a lump-sum cash option amount The cash option amount is determined by discounting the annual winning payment at 9% over 10 years. This week the lottery is worth $15 million 1 option payout be? single winner What would the cash CID The cash option payout would be s (Round to the nearest cent) (Use your financial calculator or you may use the Financial Tables in Accendix C in computing your answer, and round to the nearest cent)

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