Multiple Choice
Your friend just won the lottery.She has the choice of $15,000,000 today or a 20-year annuity of $1,050,000,with the first payment coming 1 year from today.What rate of return is built into the annuity?
A) 2.79%
B) 3.10%
C) 3.44%
D) 3.79%
Correct Answer:
Verified
Correct Answer:
Verified
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