Multiple Choice
Jessie won a lottery and was given the following choice.He could either take $5000 at the end of each month for 25 years,or a lump sum of $700 000.Assuming annual compounding at approximately what interest rate would he would be indifferent between the two choices?
A) 12.3
B) 6) 7
C) 7) 0
D) 7) 3
Correct Answer:
Verified
Correct Answer:
Verified
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