Rita Gonzales won the $45 million lottery. She is to receive $1.6 million a year for the next 20 years plus an additional lump sum payment of $13 million after 20 years. The discount rate is 15 percent. What is the current value of her winnings? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Present value 10.81 x Betty Bronson has just retired after 25 years with the electric company. Her total pension funds have an accumulated value of $280,000, and her life expectancy is 16 more years. Her pension fund manager assumes he can earn a 12 percent return on her assets. What will be her yearly annuity for the next 16 years? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annuity $ 22,329.74 X Morgan Jennings, a geography professor, invests $98,000 in a parcel of land that is expected to increase in value by 12 percent per year for the next five years. He will take the proceeds and provide himself with a 16-year annuity. Assuming a 12 percent interest rate, how much will this annuity be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annuity value $ 15,595.33 X