You Just Won the Lottery and Have Elected to Receive

question 47

Multiple Choice

You just won the lottery and have elected to receive 10 annual payments instead of the lump sum of $74,818.59. Calculate the amount of your annual payment assuming a 6% interest rate.

• A)$17,178.90
• B)$10,165.44
• C)$18,000.00
• D)$10,832.11

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Definitions:

Russian People

Refers to the nation or ethnic group native to Russia, characterized by their diverse cultural, historical, and linguistic backgrounds.

February Revolution

The 1917 uprising in Russia that led to the abdication of Tsar Nicholas II and the end of the Russian Empire, paving the way for the Bolshevik Revolution later that year.

General Strike

A large-scale strike action that involves workers from most or all industries in a region or country, typically aimed at achieving major economic or political objectives.

Petrograd

The name given to the city of Saint Petersburg, Russia, between 1914 and 1924, during a period of fervent patriotism and subsequent revolution.