Question
7. Suppose you have a choice between receiving $2,550,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today.
7. Suppose you have a choice between receiving $2,550,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity?
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Money Banking and Financial Markets
Authors: Laurence M. Ball
2nd edition
1429244097, 978-1429244091
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