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A plaintiff in a successful lawsuit was awarded a judgment of $4800 per month for 5 years. The plaintiff needs a fairly large sum of money now for an investment and has offered the defendant the opportunity to pay off the award in a lump-sum amount of $110,000. If the defendant accepts the offer and pays the $110,000 now, what rate of return will the defendant have made on the "investment"? Assume the next $4800 payment is due 1 month from now.

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Category:- Basic Finance
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