Question
Debbie has won a lottery in which she is to receive $2,000 each year for the next 28 years. She would like to determine the
Debbie has won a lottery in which she is to receive $2,000 each year for the next 28 years. She would like to determine the present value of this annuity. She has been quoted an interest rate of 6.75% compounded quarterly.
Debbie should use ____% as the appropriate interest rate to determine the present value of her annuity.
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
