Use the interest tables contained at the end of the textbook and/or a financial calculator to do the following exercises. If money is worth 11%, would you prefer Option 1: receiving $500,000 now (or year 0) or Option 2: $100,000 each year (starting in year 1) during the next ten years.
-If you receive $100,000 each year instead of the $500,000 amount, your effective interest rate or the internal rate of return would be ______________________.

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The Answer of   Use the interest tables contained at the end of the textbook and/or a financial calculator to do the following exercises. If money is worth 11%, would you prefer Option 1: receiving $500,000 now (or year 0) or Option 2: $100,000 each year (starting in year 1) during the next ten years.
-If you receive $100,000 each year instead of the $500,000 amount, your effective interest rate or the internal rate of return would be ______________________.

Use the Interest Tables Contained at the End of the Textbook