The lottery winnings have the option of getting the $100,000 all today or instead of having a payout of $10,000 per year for 15 years with the payments beginning today. Investments with similar risk to this extended payout are currently expected to have a rate of return of 4%. What is the value of choosing to take the annual payments?

Enter dollar amounts in the following form: $xx,xxx, enter number of periods as integers (round where necessary), and enter interest rates in the following form: xx.xx%.

Calculation uses what type of payments? (Beginning, Ending, or N/A )

PV =

FV =

Payment =

n =

i =