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The winner of a Fifty-million dollar lottery prize is actually entitled to payments of $500,000 at the end of every six months for 50 years.
The winner of a "Fifty-million dollar" lottery prize is actually entitled to payments of $500,000 at the end of every six months for 50 years. The winner can select to receive a single lump sum payment equal to the present value of these payments calculated using a rate of 9.8% compounded semiannually. What would be the amount of the single payment? Group of answer choices $20,118,147 $34,079,370 $10,118,727 $5,101,597 $39,453,072
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