Question
You have just won $50million in a lottery and are offered two options: receive $39.43million today or receive $5million per year for the next 10
You have just won $50million in a lottery and are offered two options: receive $39.43million today or receive $5million per year for the next 10 years.
At what interest rate are you indifferent to the choice between the two options?(Round answer to 2 decimal places, e.g. 25.12%. Do not round your intermediate calculations.)
Interest rate %
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Advanced Financial Accounting
Authors: Richard Baker, Theodore Christensen, David Cottrell
9th edition
78110920, 978-0077899165, 77899164, 978-0077484255, 77484258, 978-0078110924
