Question: Hello, I need help understanding the following problem. Please use the excel functions to explain your answer!! ( PV , FV , NPER,PMT , RATE,etc.

Hello, I need help understanding the following problem. Please use the excel functions to explain your answer!! (PV,FV,NPER,PMT,RATE,etc.) The answer should be 6.19% but I am having a hard time understanding. Thanks for all your help! Question: David won the lottery. He can take a single lump sum payout of $10 million dollars or receive $750,000 per year for the next 25 years. What rate of return would David need to break even if he took the lump sum amount instead of the annuity?

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