20. Mr. T has two options: (a) to receive a lump sum of `15,50,000 at the time...

Question:

20. Mr. T has two options:

(a) to receive a lump sum of `15,50,000 at the time of retirement and

(b) to receive `15,000 monthly as pension, for 12 years. If the rate of interest is 8% p.a., which option he should choose?

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Asim farooq

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