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You've just won the I'm Feelin' Lucky Sweepstakes!! They offer two payout choices: 1) $500,000 now OR 2) $40,000 at the end of every year

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You've just won the "I'm Feelin' Lucky Sweepstakes!! They offer two payout choices: 1) $500,000 now OR 2) $40,000 at the end of every year for 25 years What interest rate have the sponsors assumed in structuring these alternatives? Select one: a. 6.24% b. 6.51 % c. 8.00% d. 5.87% [-]

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