FOLLOW UP PRESENT VALUE PROBLEM
You have won the lottery after purchasing a $5 lottery ticket. You have the following options:
Option 1: $1,000,000 Now
Option 2: $150,000 at the end of each year for 10 years ( $1,500,0000 total)
Option 3: $2,000,000 at the end of 10 years.
Assess which of these is the best option by applying present value techniques.