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Question 8 (1 point) Suppose you just won the state lottery, and the state gives you the choice of $1,000,000 today or a 20-year annuity

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Question 8 (1 point) Suppose you just won the state lottery, and the state gives you the choice of $1,000,000 today or a 20-year annuity of $90,000, with the first payment coming one year from today. What is the rate of return built into the annuity? HINT: Ordinary Annuity with FV 0; CPT I 6.39% 6.24% 6.09% 6.19%

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