Question: Use equations to solve No excel QUESTION 1 Congratulations, you've just won the $2,800,000 state lottery! The lottery commission offers you the choice of $127,000

Use equations to solve No excel

QUESTION 1 Congratulations, you've just won the $2,800,000 state lottery! The lottery commission offers you the choice of $127,000 per year for 25 years or a one-time, lump-sum payment of $1,456,000 If your intensions are to save all of the lottery winnings (regardless of annual cash flow or lump-sum) for retirement in an account that earns 14.00% annually, which payment option should you choose? You are indifferent between the lump-sum or annuity payment because the present value of the annuity is less than the lump-sum payment. Choose the annual payment because the present value of the annuity is greater than the lump-sum payment. You are indifferent between the lump-sum or annuity payment because the present value of the annuity is greater than the lump-sum payment. Take the lump-sum payment now because the present value of the annuity is less than the lump-sum payment. Take the lump-sum payment now because the present value of the annuity is greater than the lump-sum payment

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