Sandra Won $5,000,000 in the State Lottery Which She Has

question 30

Multiple Choice

Sandra won $5,000,000 in the state lottery which she has elected to receive at the end of each month over the next thirty years. She will receive 7% interest on unpaid amounts. To determine the amount of her monthly check, she should use a table for the:

• A)Present value of an annuity of 1.
• B)Future value of an annuity due of 1.
• C)Present value of an ordinary annuity of 1.
• D)Future value of an ordinary annuity of 1.

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