roject for Math 1324. Estimated time investment 2 hours. Consider a nominal prize of one million dollars, to be paid in twenty annual payments of $50,000. Assume when each payment is made. th recipient immediately pays federal income tax at a 25% rate and invests the rest. Assume the funds invested earn 6% per year, with both Federal taxes paid from that income and the remainder velnvested. The Assignment 1. Determine the total amount of money the winner will have at the end of twenty years This will be one year affer the last payment. 2. Determine the amount the winner would have had at the end of twenty years if he or she had been given one million dollars all at once under the same conditions regarding taxes and investment 3. Determine the amount for a lump sum payment that would leave the winner with the same amount as the annuity after twenty years. 1. Discuss assumptions that were made to simplify this assignment along with important factors that have been omitted Submit a paper as a single document pdf with all supponting math operations It may be typed or hand-whitten but eithet way. I need the equations