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gogolik [260]
3 years ago
12

Keenan has won the lottery for $10,000,000. He is offered a cash payment now of $7,500,000, or 10 annual payments of $1,000,000.

What is the interest rate that makes these two amounts equal?If you can invest at 8% how much would you have after 10 years if you invested the $7,500,000?
Business
1 answer:
Katarina [22]3 years ago
7 0

Answer:

a) 5,6%

b)$16 191 937.48

Explanation:

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