A lottery winner will receive $1 million at the end of each of the next ten years. What is the present value (PV)of her winnings at the time of her final payment, given that the interest rate is 8.75% per year?
A)$6.49 million
B)$6.94 million
C)$7.96 million
D)$6.56 million

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The Answer of A lottery winner will receive $1 million at the end of each of the next ten years. What is the present value (PV)of her winnings at the time of her final payment, given that the interest rate is 8.75% per year?
A)$6.49 million
B)$6.94 million
C)$7.96 million
D)$6.56 million

A Lottery Winner Will Receive $1 Million at the End