A $3.6 million state lottery pays $15,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 5.8%, compounded monthly

John is the chief operating officer (ceo) at an advertising company. he conducts bi-weekly meetings with his middle managers through which he motivates them and guides them to achieve their targets. additionally, john also meets new employees once every few months for general discussions and to brief them about the company's policies and goals. in this case, john exhibits characteristics of the function of management to ensure organizational success.