Lisi Ji just won $12 million in the Hong Kong mega lottery. She is given the option of receiving a lump sum immediately,

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Lisi Ji Just Won 12 Million In The Hong Kong Mega Lottery She Is Given The Option Of Receiving A Lump Sum Immediately 1 (22.99 KiB) Viewed 114 times

Lisi Ji just won $12 million in the Hong Kong mega lottery. She is given the option of receiving a lump sum immediately, or she can elect to receive an annual payment of $1 million at the end of each year for the next 15 years. If Lisi can earn 8% annually on her investments, which option she should take? C. If Lisi Ji takes the prize as an annuity, the present value of the 15-year ordinary annuity is $. (Round to the nearest dollar.) If Lisi Ji takes the prize as a single amount, the present value of the lump sum is $. (Round to the nearest dollar.) Which option she should take? (Select the best answer below.) O A. Annuity payments O B. Lump sum payment