Congratulations! you have just won the lottery! however, the lottery bureau has just informed you that you can take your winnings in one of two ways. choice x pays $1,000,000. choice y pays $1,750,000 at the end of five years from now. using a discount rate of 5 percent, based on present values, which would you choose? using the same discount rate of 5 percent, based on future values, which would you choose? what do your results suggest as a general rule for approaching such problems? (make your choices based purely on the time value of
money.)