You Have Just Won the Multi-State Lottery Jackpot of $500,000,000!

question 113

Multiple Choice

You have just won the Multi-State Lottery Jackpot of $500,000,000! You have the option of receiving a check for $25,000,000 every year at the end of the next 20 years.The lottery commission also allows you the option of receiving a one-time payment of $311,555,000 when you turn in the winning ticket.What is the approximate interest rate that the lottery commission is using to determine the one-time payment?

• A)5%
• B)6%
• C)8%
• D)9%

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Definitions:

Roman Numeral

A numeral system originating in ancient Rome, utilizing letters from the Latin alphabet (I, V, X, L, C, D, M) to represent numbers.

Aerial Photograph

An aerial photograph is an image taken from an elevated position, typically from an aircraft or drone, used often in surveying, mapping, and military intelligence.

Visualizing

The process of forming mental visual images of scenarios or objects not immediately present to the senses.

Perceiving

The process of becoming aware of something via the senses or the act of interpreting sensory information to understand the environment.