Assume that you just won the state lottery. Your prize can be taken either in the form of $46,000 at the end of each of the next 20 years (that is, $920,000 over 20 years) or as a single amount of $557,000 paid immediately.

a. If you expect to earn 11% annually on your investments over the next 20 years, ignoring taxes and other considerations, which alternative should you take? Why?

b. Would your decision in part a change if you could earn 13% rather than 11% on your investments over the next 20 years? Why?

c. At approximately what interest rate would you be indifferent between the two options?

c. At approximately what interest rate would you be indifferent between the two options?

I ONLY NEED C ANSWERED. I SOLVED A AND B JUST CANT FIGURE OUT C. THANK YOU.