Justin has won 500000 tax free in a lottery that he is, Business Economics

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Justin has won 500000 tax free in a lottery that he is

Justin has won $500,000 tax free in a lottery that he is going to invest. He has narrowed down his search to three funds that each have different stated rates. How much will he accumulate in 20 years for each of the three investment alternatives? Show calculations/formulas in Excel.

a. 6.15% NAR with monthly compounding

b. 0.50% monthly PIR

c. 6.25% EAR

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