$10,000 a week or $10 million all at once?

This activity is accessible to student elementary through high school with varying depth of study.

Would you rather have $10,000 a week or $10 million all at once? What kinds of things do we need to think about or factor in when making this decision? If you had to advise the winner of this drawing, what information would you need to help you determine what they should choose? How does $10,000 compare to $10 million? Why is that important to consider in this problem? How do life-expectancies, taxes and investments factor into this problem?

Thanks to Michelle Czlapinski for the idea for this post.