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Gary has recently won the lottery and the gaming department gave him four options as shown below. If the current annual interest rate is
Gary has recently won the lottery and the gaming department gave him four options as shown below. If the current annual interest rate is 3.50% and that he wants to receive the maximum reward in today's value, which option will you advise him to take? O a. Receive $240,000.00 a year for 20 years O b. Receive a lump sum of $3.5 million today O c. Receive $5,800.00 a week for 15 years O d. Receive $18,000.00 a month for 25 years Ruth purchased 10 bonds of Bangor Ltd. at 86.75 with a commission of $10.00 per bond purchase. If the coupon rate is 4.65%, what is her total annual interest amount (round to the nearest cent)? O a. $46.50 O b. $465.00 c. $536.02 d. $436.02 52 Weeks High: 19.27 52 Weeks Low: 14.37 Last Closing Price: 17.21 Annual Dividend per Share: 1.21 PE: 21.20 What is the stock yield? O a. 7.03% O b. 6.28% O c. 8.42% O d. 5.71% Jonathan plans to repay $320,000.00 in 14 years with a sinking fund. If the interest rate is 8.13% compounded biweekly, how much will he pay every two weeks (round to the nearest cent)? O a. $503.56 O b. $472.97 O c. $513.94 O d. $472.35
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