You’ve won $1 million but aren’t receiving it all today. Rather, you get $100,000 today, then $100,000 every year for the next nine years. Assume that you could invest a lump-sum payment today in an account yielding an interest rate of 3% annually. What’s the total value of the future nine payments today? Round to the nearest dollar. Select the correct answer.

$778,611

$876,711

$878,611

$1,000,000

What’s the total present value you will be paid?

$778,611
$876,711
$878,611
$1,000,000

878611

Step-by-step explanation:

Because the first payment is today this is what we call an annuity due

the annuity due formula is: Annuity immediate formula * (1+i)

which rounds to

878611

18

step-by-step explanation:

draw the shape and you will see that f and k are actually at adjacent vertices (points of the hexagon that are neighboring).   so find the distance between (1,2) and (4,2).   that is easy since (1,2) and (4,2) is just a vertical distance to count, which is 3.   it is a regular polygon which means all sides are congruent.   you have 6 sides (hexa) so multiply 6 by 3 to receive 18.

2nd one in the first row is correct