1. The winner of a state lottery is offered the following three options: i. Receive 10 million dollars now. ii. Receive 7 million dollars now and 7 million dollars in 10 years. iii. Receive 1 million dollars at the end of each year for the next 20 years.
   1. Use an interest rate of 4% per year compounded annually to determine the best option for the lottery winner.
   2. Use an interest rate of 8% per year compounded annually to determine the best option for the lottery commission.