Multiple Choice
Jonas won a lottery that will pay him $100,000 at the end of each of the next twenty years.Zebra Finance has offered to purchase the payment stream for $1,359,000.What interest rate (to the nearest percent) was used to determine the amount of the payment?
A) 7%.
B) 6%.
C) 5%.
D) 4%.
Correct Answer:
Verified
Correct Answer:
Verified
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