You Have Just Won the Lottery! You Can Either Receive

question 91

Multiple Choice

You have just won the lottery! You can either receive $6,500 a year for 20 years or $100,000 as a lump sum payment today.What is the interest rate on the annuity option?

• A)2.64 percent
• B)1.68 percent
• C)2.20 percent
• D)2.45 percent
• E)1.95 percent

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Definitions:

Bilateral Symmetry

A symmetrical form in which an organism can be divided into mirrored halves along a single plane, common in the animal kingdom.

Nerve Cells

Specialized cells of the nervous system that transmit electrical and chemical signals throughout the body, also known as neurons.

Endodermal Tissue

The innermost layer of cells or tissue of an embryo in early development or the innermost layer of the plant root and shoot system.

Ectodermal Tissue

A primary germ layer of embryonic cells that gives rise to the outermost layer of skin, nervous system, and various other structures in animals.