Answered

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Julie won a lottery. She will have a choice of receiving an annuity of [tex]$30,000 at the end of each year for the next 30 years, or a lump sum of $[/tex]375,000 today. If she can earn a return of
6.5 percent on her alternative investments, what should she do? (Round to the nearest
hundred dollars.)
Take the annuity because its value exceeds the lump-sum by [tex]$16.760 Take the lump sum because its value is equal to the annuity's value. O Take the annuity because its value is less than $[/tex]375,000
O none of these
Take the lump sum because its value exceeds the annuity's value by $16,760
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