Question
You just won the state lottery. The state gives you the choice of $1,000,000 today or a 20-year annuity of $94,390, with the first payment
You just won the state lottery. The state gives you the choice of $1,000,000 today or a 20-year annuity of $94,390, with the first payment coming one year from today. What rate of interest is built into the annuity?
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Real Estate Finance
Authors: Sherry Shindler Price
1st Edition
0934772185, 9780934772181
