1. [-/1 Points] DETAILS TEAFM2 F.4.040. MY NOTES You are offered a $1,320,000 retirement package to be given in $110,000 payments at the end of each of the next 12 years. You are also given the option of accepting a $930,000 lump sum payment now. Interest rates are at 4% over the next 12 years. Which is a better option? the offered annual payments of $110,000 the lump sum of $930,000 they are the same cannot be determined 2. (-/1 Points] DETAILS TEAFM2 F.4.004. MY NOTES Find the amount needed to deposit into an account today that will yield a typical pension payment of $50,000 at the end of each of the next 22 years for the given annual Interest rate. (Round your answer to the nearest cent.) 7.9%