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Business, 02.10.2019 18:40 ltay92

You have just won the multi-state lottery jackpot of $500,000,000! you have the option of receiving a check for $25,000,000 every year at the end of the next 20 years. the lottery commission also allows you the option of receiving a one-time payment of $311,555,000 when you turn in the winning ticket. what is the approximate interest rate that the lottery commission is using to determine the one-time payment?

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