Solved

Use the Following to Answer Questions

Question 1

Multiple Choice

Use the following to answer questions
Present and future value tables of $1 at 3% are presented below:
Use the following to answer questions  Present and future value tables of $1 at 3% are presented below:    -Shelley wants to cash in her winning lottery ticket.She can either receive ten $100,000 semiannual payments starting today,or she can receive a lump-sum payment now based on a 6% annual interest rate.What is the equivalent lump-sum payment? A) $853,020. B) $801,969. C) $744,090. D) $878,611.
-Shelley wants to cash in her winning lottery ticket.She can either receive ten $100,000 semiannual payments starting today,or she can receive a lump-sum payment now based on a 6% annual interest rate.What is the equivalent lump-sum payment?


A) $853,020.
B) $801,969.
C) $744,090.
D) $878,611.

Correct Answer:

verifed

Verified

Related Questions