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Now it's time for you to practice what you've learned. Suppose that Latasha just won the lottery and must choose between three award options: Assume the interest rate is 8.00%, entered as 8 on your financial calculator. Note: Take the absolute value of the present value when answering this question. Using a financial calculator yields a present value for option 2 of approximately and a present value for option 3 of approximately (when the interest rate is 8.00% ). Based on this, Latasha should choose option 2 if she seeks to maximize present value; Now assume the interest rate is 9.00%, entered as 9 on your financial calculator. Note: Toke the absolute value of the present value when answering this question. Using the table you just filled out and a financial calculator, yields a present value for option 2 of approximately and a present value for option 3 of approximately option (when the interest rate is 9.00% ). Based on this, Latasha should choose if she seeks to maximize present value. Assume the interest rate is 10.00%, entered as 10 on your financial calculator: Note: Take the absolute value of the present value when answering this question. Using the table you just filled out and a financial calculator, yields a present value for option 2 of approximately present value for option 3 of approximately option and a If she seeks to maximize present value. As the interest rate increases, options 2 and 3 become attractive, relative to option 1

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