Somebody won $1.04 billion in the Powerball jackpot on Wednesday, August 12, in the US.
The winner has two options for collecting the money:
• Annuity: $1.04 billion paid over 29 years
• Cash option: $450.5 million paid instantly
Note: Both options are before taxes.
If you were the winner, which would you take?
Option A: $450.5 million today
Option B: $1.04 billion over 29 years