solution
Annuity vs. Lump Sum
Q2
At what interest rate (as an EAR) would you be indifferent
between the following two choices: 1) receiving $10,000 per year,
starting 1 year from today, for a total of 2 payments
(the last payment occurs 2 years from today in that
case)… OR, 2) receiving $22,055
exactly 3 years from today? Answer:
_____%
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Order Paper NowMargin of error for correct responses: +/- .03%.
Rounding and Formatting instructions: Do not enter a %
sign in your response. Do not round any
intermediate work, but round your *final* response to 2 decimal
places (Example: if your answer is 12.34567%, you should enter
12.35.)
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