Question: Kindly solve and explain each and every step with calculation 6-30 Evaluating lump sum amounts and annuities Crissie has just won the state lottery and

Kindly solve and explain each and every step with calculation

6-30 Evaluating lump sum amounts and annuities Crissie has just won the state lottery and has three award options to choose from. She can elect to receive a lump sum paynent today of $61 million, 10 annual end-of-year payments of $9.5 million, or 30 annual end-of-year payments of $5.5 million. a. If she expects to earn a 7 percent annual return on her investments, which option should she choose? b. If she expects to earn an 8 percent annual return on her investments, which option should she choose? c. If she expects to earn a 9 percent annual return on her investments, which option should she choose

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