You have just won the 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 percent
B) 1.68 percent
C) 2.20 percent
D) 2.45 percent
E) 1.95 percent
Correct Answer:
Verified
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