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The winning ticket in the Super Ball Lottery has a prize of 20 consecutive payments of $100,000 per year, beginning in one year. What is

The winning ticket in the Super Ball Lottery has a prize of 20 consecutive payments of $100,000 per year, beginning in one year. What is the present value of the lottery prize if the interest rate is 4%?

0 1 2 3 4 19 20

? 100,000 100,000 100,000 100,000 100,000 100,000

$1,246,221

$1,359,033

$1,735,143

$1,862,208

$2,052,347

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