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You win a lottery draw where the organizers claim the prize is a total of $10,000,000. When you read the fine print, this amount is
You win a lottery draw where the organizers claim the prize is a total of $10,000,000. When you read the fine print, this amount is actually paid in equal yearly payments over 25 years, with each payment at the beginning of the year starting today. How much are the winnings actually worth today? The APR is 6%. $4,255,987 More than $6,000,000 55,000,342 $2,329,986 None of the options
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