You Just Won a Lottery-CONGRATULATIONS! Your Parents Have Always Told

question 16

Multiple Choice

You just won a lottery-CONGRATULATIONS! Your parents have always told you to plan for the future,so since you already have a well-paying job you decide to invest rather than spend your lottery winnings.The payment schedule from the lottery commission is $100,000 after taxes at the end of year one and 19 more payments of exactly $100,000 after taxes in equal annual end-of-the-year deposits (i.e.,20 deposits of $100,000 each,the first deposit is one year from today) into your account paying 8.5% compounded annually.How much money will be in your account after the last deposit is made?

• A)$2,000,000.00
• B)$3,637,896.48
• C)$4,099,549.23
• D)$4,837,701.32

---

Definitions:

Recommendations

Suggestions or advice given based on analysis or experience, aimed at guiding decisions or actions.

Analytical Report

A document that provides detailed analysis on a specific topic, often used to support decision-making by presenting facts and analysis.

Conclusions and Recommendations

The final section of a document or presentation that summarizes the findings and suggests actions or solutions based on those findings.

Recommendations

Suggestions or proposals as to the best course of action, often based on some form of analysis or assessment.