Alyshahas just won a lottery. She will receive a payment of $9,300at the end of each year for9years. As an alternative, she can choose an immediate payment of $50,000.

Which alternative should she pick if the interest rate is4percent?

Alyshashould pick:

A)Immediate payment

B)Payment at the end of each year

What would the interest rate have to be forAlyshato be indifferent about the two alternatives?(Round answer to 4 decimal places, e.g. 25.2341%. Do not round your intermediate calculations.)

Interest rate %