Multiple Choice
Prizes are often not "worth" as much as claimed. Place a value on a prize of $5,000,000 that is to be received in equal payments over 20 years, with the first payment beginning today. Assume an interest rate of 7%.
A) $2,833,898.81
B) $2,911,015.68
C) $2,609,144.14
D) $2,738,304.13
Correct Answer:
Verified
Correct Answer:
Verified
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