A lottery offers you a choice of $1,000,000 per year for 6 years or a lump-sum payment. What lump-sum payment (rounded to the nearest dollar) would equal the annual payments if the current interest rate is 13% compounded annually?
?

A. $3,998,440
B. $3,997,550
C. $3,988,144
D. $4,517,231
E. $4,006,956


Answer: B

Mathematics

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Fill in the blank(s) with the appropriate word(s).

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