Suppose you win a $2,000,000 lottery. You have the option o…
Suppose you win a $2,000,000 lottery. You have the option of receiving $160,000 at the end of each year for the next 20 years or a lump sum amount of $2,000,000 now. If you can invest at annual interest rate of 7%, which option would you choose?
Read DetailsYour aunt wants to retire and has $375,000 now. She expects…
Your aunt wants to retire and has $375,000 now. She expects to live for another 25 years and to earn 7.5% on her invested funds. How much could she withdraw at the end of each of the next 25 years and end with zero in the account?
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