A woman wins 200000 in a lottery she takes only 20000 in, Ask an Expert

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A woman wins $200,000 in a lottery. She takes only $20,000 in cash and invests the balance at a rate of interest of 10% with the understanding that she will receive 180 equal monthly payments, with the first one to be made in 4 years. Find the size of the payments.

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Financial Management, Finance

Category:- Financial Management
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