Lotta Dough Just Won the State Lottery and Has Elected

question 16

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 10 percent annual interest?

• A)$864,642
• B)$468,246
• C)$246,468
• D)$500,000

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Definitions:

Treed Land

Treed Land refers to an area of land substantially covered with trees, often considered in terms of forestry, conservation, or land use.

Tropical Forests

Dense forests found in the equatorial regions characterized by high rainfall and biodiversity.

Canada

is a country located in the northern part of North America, known for its vast wilderness, diverse cultures, and strong economy.