You win a 3149 million dollar Powerball jackpots You are sch

You win a $314.9 million dollar Powerball jackpots. You are scheduled to get 30 equal annual payments that add up to $314.9 million, with the first payment comes today. However, you are given options of getting a lump-sum payment of $150 million today. If the interest rate was 4.31%, which option would you choose?

Solution

getting a lump-sum payment of $150 million today.