Assume you win a $1,000,000 contest, and the prize will be paid in equal 10 equal installments over 10 years. The payments will be made on June 30 of each year beginning with June 30 this year. If the current rate of interest is 7 percent, what is the present value of your winnings? Use the information in the table to determine your answer. Present value of an annuity of $1 at compound interest: 
Definitions:
Qualitative Model
A model that utilizes non-numerical data to understand patterns, concepts, or qualities of specific phenomena or behaviors.
HR Demand
The organization's future requirements for human resources based on anticipated business needs.
Quantitative And Qualitative Analyses
The evaluation or examination of data or information, applying both numerical (quantitative) and non-numerical (qualitative) methods.
Delphi Technique
A method of forecasting that involves gathering the opinions of experts through a series of questionnaires with feedback loops to reach a consensus.
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