Question: Question Help Marcus has won a $8,000,000 state lottery. He can take his prize as either 10 yearly payments of $800,000 or a lump sum

 Question Help Marcus has won a $8,000,000 state lottery. He can
take his prize as either 10 yearly payments of $800,000 or a

Question Help Marcus has won a $8,000,000 state lottery. He can take his prize as either 10 yearly payments of $800,000 or a lump sum of $5,620,000. Which is the better option? Assume an interest rate of 7%. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. (Round to the nearest dollar as needed.) O A. The present value of the lottery winnings is this is worse than the lump sum of $5,620,000. B. The present value of the lottery winnings is $ this is better than the lump sum of $5,620,000. OC. The present value of the lottery winnings is the same as the lump sum of $5,620,000. 8.5.27 Question Help Marcus has won a $10,000,000 state lottery. He can take his prize as either 10 yearly payments of $1,000,000 or a lump sum of $6,420,000. Which is the better option? Assume an interest rate of 9% Select the correct choice below and, if necessary, fill in the answer box to complete your choice

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