Question: photo 2 is send as a reference At what effective rate of interest will money double in 9 years? You have won a lottery and

photo 2 is send as a reference

At what effective rate of interest will money double in 9 years? You have won a lottery and you have two options in the way you can receive your winnings: Option 1: $600, 000 now. Option 2: $350, 000 now and another $340, 000 five years from now. . Which option is better and by how much if money is worth 6.38% compounded quarterly? Format V UA AO o + ... N 1/Y P/Y C/Y

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