Question
1. You have two options to retire. You can receive $575 per month if you start taking the funds at age 55, or you can
1. You have two options to retire. You can receive $575 per month if you start taking the funds at age 55, or you can receive $795 per month by waiting til age 65. You expect a decent return of 5.8%. You also expect to live until 87.
2. You win the lottery for $30,000,000 buy you have to take it in 20 payments. An outside company will offer to give you a lump sum upfront. You believe you can earn 5.6% on the money, what amount would you accept.
NOTE: Please show break-down for example fill in for PMT, PV, FV, I/Y, and N. So, I can have a clear understanding of how to input. Thank you.
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