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  3. you win a prize of 20 annual installments of $100,

You win a prize of 20 annual installments of $100,000. You save your winnings for...

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Finance

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You win a prize of 20 annual installments of $100,000. You save your winnings for the first seven years and then spend every cent of the winnings in the remaining 13 years. If you can save winnings at 7% interest, how much would you have at the end of 20 years? $2,085,485 $2,531,762 $1,985,485 $2,327,112 $2,385,485 $1,814,064 $1,743,335

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