Question: (1 point) Bob Pirtle won ( $ 3 ) million in a state lottery. He was surprised to learn that he will not receive a

$(1 point) Bob Pirtle won \$ \\$ 3 \$ million in$

(1 point) Bob Pirtle won \$ \\$ 3 \$ million in a state lottery. He was surprised to learn that he will not receive a check for \$ \\$ 3 \$ million. Rather, for twenty years, he will receive an annual check from the state for \$ \\$ 150000 \$. The state finances this series of checks by buying Bob a payout annuity. Find what the state pays (that is, the total payment) for Bob's payout annuity if the interest rate is \8

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