John won a lottery that will pay him $250,000 at the end of each of the next twenty years. Zebra Finance has offered to purchase the payment stream for $3,397,500. What interest rate (to the nearest percent) was used to determine the amount of the payment?

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The Answer of John won a lottery that will pay him $250,000 at the end of each of the next twenty years. Zebra Finance has offered to purchase the payment stream for $3,397,500. What interest rate (to the nearest percent) was used to determine the amount of the payment?

John Won a Lottery That Will Pay Him $250,000 at the End