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you have just won a lottery prize of $1,000,000 collectable in 10 yearly installments of $100,000 starting today. This means the prize is not really

you have just won a lottery prize of $1,000,000 collectable in 10 yearly installments of $100,000 starting today. This means the prize is not really worth $1,000,000. What is it worth today if money can be invested at 9 percent annual interest, compounded monthly?

a. $731,150

b. $967,158

c. $699,525

d. $690,357

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