Randy W. recently won the Western States Lottery. The lottery pays either a total of twenty $325,000 payments per year with the first payment today (i. e., an annuity due), or $3,500,000 today. At what interest rate would Randy be financially indifferent between these two payout choices?
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Randy W. recently won the Western States Lottery. The lottery pays either a total of twenty $325,000...
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