Multiple Choice
Your girlfriend just won the Florida lottery.She has the choice of $15, 000, 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?
A) 3.44%
B) 3.79%
C) 4.17%
D) 4.58%
E) 5.04%
Correct Answer:
Verified
Correct Answer:
Verified
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