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Question: John won a lottery that will pay him $500,000 at the end of each of the next twenty years. Zebra ... (1 bookmark) John
Question: John won a lottery that will pay him $500,000 at the end of each of the next twenty years. Zebra ... (1 bookmark) John won a lottery that will pay him $500,000 at the end of each of the next twenty years. Zebra Finance has offered to purchase the payment stream for $6,795,000. What interest rate (to the nearest percent) was used to determine the amount of the payment? a. 7% b. 6% c. 4% d. 5%
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