Multiple Choice
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.
Correct Answer:

Verified
Correct Answer:
Verified
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