You have just won a lottery! You can either receive $6,500 a year for 20 years or $100,000 as a lump sum payment today. What is the interest rate on the annuity option?
a. 2.64%
b. 1.68%
c. 2.20%
d. 2.45%
e. 1.95%
Ans: a. 2.64%
Business
You might also like to view...
I sent a survey to several ______________________________ to determine how many companies use online job resources.
Fill in the blank(s) with the appropriate word(s).
Business
Corporate social responsibility is the practice of going beyond legal obligations to actively balance commitments to investors, customers, other companies, and communities
Indicate whether the statement is true or false
Business