You just won a contest you will receive 50000 a year for 30, Financial Management

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You just won a contest you will receive 50000 a year for 30

1. A local magazine is offering a $10,000 grand prize to one lucky winner. The prize will be paid in five annual payments of $2,000 each, starting one year after the drawing. How much would this prize be worth to you today if you can earn 8 percent on your money?

A. $5,550.50

B. $5,925.24

C. $6,050.82

D. $7,985.42

E. $8,624.25

2. You just won a contest! You will receive $50,000 a year for 30 years, starting today. If you can earn 10 percent on your investments, what are your winnings worth today?

A. $150,000.00

B. $333,333.33

C. $436,510.50

D. $450,000.00

E. $518,480.30

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