Account that pays interest at rate

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You make a deposit of $1,000 in an account that pays interest at a rate of 12% compounded quarterly. In two years, the balance will be

John won the lottery. The state offers to pay him $1 million up front or a series of 25 payments of $50,000 per year for 25 years. This series of payments is called what?

Reference no: EM13885319

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Account that pays interest at rate : You make a deposit of $1,000 in an account that pays interest at a rate of 12% compounded quarterly. In two years, the balance will be John won the lottery. The state offers to pay him $1 million up front or a series of 25 payments of $50,000 per yea..

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