Question: please round to two decimal places. answer must be exact Interest rate with annully Alocal government is about to run a lottory, but can not

please round to two decimal places. answer must be exact Interest

please round to two decimal places. answer must be exact

Interest rate with annully Alocal government is about to run a lottory, but can not want to be involved in the payofif a winner picks an annuly payoff The government contracts with a trust to pay the lump sum payout to the trust and have the trust probably a local bank) pay the annual payments. The first winner of The follory choose the annully and will receive $150,000 a your for the next 25 years. The local government will give the trust $2.000,000 to pay for this annuity What investment rate must the trust cam to break even on this arrangement? What investment rate must the trutumn to break even on this arrangement? % (Round to two decimal places

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