Question: 1. (6 points) Same idea as bond (8) Lottery payment vs. amortization Joe wins a lottery. After paying off taxes, the net amount left is

1. (6 points) Same idea as bond (8) Lottery payment vs.

1. (6 points) Same idea as bond (8) Lottery payment vs. amortization Joe wins a lottery. After paying off taxes, the net amount left is $600,000. Instead of a lump-sum payment, Joe Opts to take an annual distribution for the next 20 years starting from now. The agreement also states that any undistributed fund receives 4% interest. How much money will he receive each year? Implicit interest rate on consumer loans vs. yield Rachel bought a queen size mattress with store credit. The cash price of the mattress was $1,800. A two year zero down nance has quarterly payment of $300. Write the equation that determines the interest rate charged by the store? If you can, solve for it

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