Multiple Choice
Jonas won a lottery that will pay him £125,000 at the end of each of the next twenty years. Zebra Finance has offered to purchase the payment stream for £1,699,000. 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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