I believe the single payment amount on $1.5B is $930M. $930M is what should be advertised, not $1.5B.

The present value of $1.5B is $930M. Theoretically, in order to payoff the $1.5B over 30 years the commission only needs $930M. The rest is paid form interest earned on the $930M over the 30 year period.

Think of a 30 year mortgage. If $100K is borrowed @ 5% for 30 years. Total payments are about $190,000. So, is it a $100K mortgage or a $190K mortgage. Of course it is considered a $100K mortgage. (The present value of $190,000 is $100,000). The mortgage company is like the lottery winner. It gets paid $190,000 over 30 years. However the company could be paid off immediately with $100K. All in all it is a $100K mortgage and a $930M lottery NOT a $1.5B lottery