Short Notes: There are three numerical questions, you can answer them using either mathematical formula (if possible) or financial calculator. No matter what method you use, you need to show the calculation steps (for math formula) or function buttons that you click (for calculator, like what was shown in the PPT slide 6 or slide 8 of chapter 5). Showing no steps will be discounted significantly.

Question 3 (10 points) Jessica has just won a game organized by her community. As a reward, she needs to choose among three options: (A) She can choose to receive a lump-sum today of $55, (B) to receive 10 end-of-year payments of $9, or (C) to receive 30 end-of-year payments of $5. If we assume that she can earn 6% annually, which option should she choose?