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QUESTION
The Super Ball lottery was won by Joan; her winnings were $500,000.00 to be paid in quarterly payments of $12,500.00 each over the next 10 years. How much must Super Ball deposit in an account paying
The Super Ball lottery was won by Joan; her winnings were $500,000.00 to be paid in quarterly payments of $12,500.00 each over the next 10 years. How much must Super Ball deposit in an account paying 8 percent interest compounded quarterly for 10 years in order to meet their commitment to Joan?
$341,937.50
$500,000.00
$755,021.75
$341,924.78
