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David won a lottery that will pay him $510000 at the end of each of the next twenty years. Splish Brothers has offered to purchase
David won a lottery that will pay him $510000 at the end of each of the next twenty years. Splish Brothers has offered to purchase the payment stream for $5849700. What interest rate (to the nearest percent) was used to determine the amount of the payment? 9%. 8%. 6%. O 7%
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