Multiple Choice
Your girlfriend just won the Florida lottery.She has the choice of $11,500,000 today or a 20-year annuity of $1,050,000,with the first payment coming one year from today.What rate of return is built into the annuity? Disregard taxes.
A) 7.69%
B) 6.44%
C) 5.13%
D) 6.58%
E) 5.59%
Correct Answer:
Verified
Correct Answer:
Verified
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