You have just won the lottery! You can either receive $183,555 per year for 20 years or $2,300,000 as a lump sum payment today.What is the interest rate on the annuity option?
A) 4.94 percent
B) 3.98 percent
C) 5.50 percent
D) 4.75percent
E) 4.25 percent
Correct Answer:
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