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You have just won the state lottery and have two choices for collecting your winnings. You can collect $100,000 (Option 1) today or receive $20,000

You have just won the state lottery and have two choices for collecting your winnings. You can collect $100,000 (Option 1) today or receive $20,000 (Option 2) per year for the next seven years. A financial analyst has told you that you can earn 10 percent on your investments. 1. Calculate the present value of both the options? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

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