You win the lottery! You can either take the money now or wait 15 years and receive it then. If you get it now, then the best investment that you found is a 15 year CD that will earn 3.5%/year. The lottery offers you $1,000,000 if take the winnings today or $2,000,000 if you wait 15 years. Assuming their are no other risks, taxes, or opportunity costs (i.e. missing out on the fun of having $1 million now is not a deciding factor), what should you do? Take the $1,000,000 now and invest it in the CD Take the $2,000,000 in 15 years Time Value of Money concepts are based on the idea that a dollar today is worth more than a dollar in the future because of inflation. True False When Kylie was born, she received $2,500 from her relatives as a gift. Her mom invested the money in a stock. The return on the account has been 8% compounded annually. Now Kylie is 21 years old. How much does she have on the account? She did not touch her account for 21 years and let the returns compound. A