David wynn gets an auto loan from his credit union for $11,500. David will make monthly payments over the next five years to repay the loan. What type of financial service is david using?.

Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?