Business, 25.02.2020 16:20 wendhycardenas2019
Joe Smith, age 75, from Vienna, IL has the winning Powerball lottery numbers which will pay out $13 million at the beginning of each of the next 30 years (reported prize of $390 million). Before claiming his prize, Trusty Insurance Company offers Joe $200 million today in exchange for his winning lottery ticket and prize payout.
Required:
1. What rate of return would Trusty Insurance earn if Joe accepts their offer?
Answers: 1
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Joe Smith, age 75, from Vienna, IL has the winning Powerball lottery numbers which will pay out $13...
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