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Present value of the 20?-year ordinary annuity

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Gabrielle just won ?$1.6 million in the state lottery. She is given the option of receiving a of ?$800,000 ?now, or she can elect to receive ?$80,000 at the end of each of the next 20 years. If Gabrielle can earn 6?% annually on her? investments, which option should she? take?

If Gabrielle takes the prize as an? annuity, the present value of the 20?-year ordinary annuity is ?$ (Round to the nearest? dollar.)

Reference no: EM132494526

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