#7

Alysha has just won a lottery. She will receive a payment of $7,800 at the end of each year for 9 years. As an alternative, she can choose an immediate payment of $65,000. Which alternative should she pick if the interest rate is 6 percent? Alysha should pick Payment at the end of each year What would the interest rate have to be for Alysha to be indifferent about the two alternatives? (Round answer to 4 decimal places, eg. 25.2341%. Do not round your intermediate calculations.) Interest rate %