Lotta Dough Just Won the State Lottery and Has Elected

question 11

Multiple Choice

Lotta Dough just won the state lottery and has elected to receive $50,000 per year for 20 years in the form of an annuity due.What is the present value of this stream of payments if money can earn 6 percent annual interest?

• A)$900,706
• B)$500,000
• C)$607,004
• D)$607,905

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