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

question 35

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)Future value of $1.
• B)Present value of $1.
• C)Future value of an annuity of $1.
• D)Present value of an annuity of $1.

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Definitions:

Treaty of Versailles

The peace treaty that ended World War I in 1919, imposing heavy reparations and territorial losses on Germany.

League of Nations

An international organization established after World War I intended to maintain world peace and prevent future conflicts.

Senate

One of the two chambers of the United States Congress, responsible for making federal laws and composed of senators from each state.

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A government's strategy in dealing with other nations, determining how they interact with other countries politically, economically, and militarily.