Multiple Choice
Your girlfriend just won the Florida lottery.She has the choice of $10,800,000 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? Disregard taxes.
A) 8.71%
B) 7.60%
C) 5.69%
D) 7.38%
E) 6.57%
Correct Answer:
Verified
Correct Answer:
Verified
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