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Solve with Financial Calculator. What are the steps? All information provided 7. Dwayne won the Powerball Lottery. The lottery allows for either a one-time lump

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Solve with Financial Calculator. What are the steps? All information provided

7. Dwayne won the Powerball Lottery. The lottery allows for either a one-time lump sum payment to the winner, or a series of periodic payments over 30 years. If Dwayne chooses the periodic payments, he will receive $5,000,000 per year for 30 years. If Dwayne chooses the lump sum amount, he will receive a check for $59,051,931.33. What interest rate would make Dwayne indifferent between those two options? A. 15% B. 12.5% C. 10% D. 7.5% E. None of the other answers

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