PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE A FINANCIAL CALCULATOR...
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PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE A FINANCIAL CALCULATOR PLEASE PUT ALL STEPS FOR ENTERING INTO THE CALCULATOR AND WHICH MODES IT NEEDS TO BE ON.
Question 24 Congratulations, you've just won the $2.800.000 state lottery! The lottery com- mission, offers you the choice of $127.000 per year for 25 years or a one-time, lump-sum payment of $1,156,000 If your intensions are to save all of the lottery winnings (regardless of annual cash flow or lump-sum) for retirement in an account that earns 11.00% annually which payment option should you choose
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