A Lottery Winner Will Receive $1 Million at the End

question 62

Multiple Choice

A lottery winner will receive $1 million at the end of each of the next ten years.What is the future value (FV) of her winnings at the time of her final payment,given that the interest rate is 8.5% per year?

• A)$13.84 million
• B)$14.84 million
• C)$18.95 million
• D)$19.95 million

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