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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Definitions:

Simple Columnar Epithelium

A type of epithelium composed of a single layer of tall, closely packed cells, lining organs such as the digestive tract.

Stratified Squamous Epithelium

A type of tissue formed by multiple layers of flat cells, designed to protect underlying tissues in areas subject to abrasion.

Underclass

The poorest of the poor, who often have difficulty finding a place in mainstream society.

Illiterate

A term describing someone unable to read or write.