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Note: Use tables, Excel, or a financial calculator. (+V of $1, PV of $1, FVA of $1, PVA Of $1, FVAD of $1 and PVAD OT $1) Complete this question by entering your answers in the tabs below. Required 1 Required 2 You recently won a lottery and have the option of receiving one of the following three prizes: (1) $70,000 cash immediately, (2) $24,000 cash immediately and a six-year annual annuity of $8,100 beginning one year from today, or (3) a six-year annual annuity of $14,500 beginning one year from today. Assuming an interest rate of 7% compounded annually, determine the present value for the above options. Which option should you choose? Note: Round your final answers to nearest whole dollar amount. Option 1 Option 2 Annuity Payment Option 3 Which option should you choose? PV Annuity + Option 1 + + +

Complete this question by entering your answers in the tabs below. You recently won a lottery and have the option of receiving one of the following three prizes: (1) $70,000 cash immediately, (2) $24,000 cash immediately and a six-year annual annuity of $8,100 beginning one year from today, or ( 3 ) a six-year. annual annuity of $14,500 beginning one year from today. Assuming an interest rate of 7% compounded annually, determine the present value for the above options. Which option should you choose? Note: Round your final answers to nearest whole dollar amount

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