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17. Assume that Social Security promises you $50,000 per year starting when you retire 50 years from today (the first $50,000 will get paid 50

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17. Assume that Social Security promises you $50,000 per year starting when you retire 50 years from today (the first $50,000 will get paid 50 years from now). If your discount rate is 7% compounded annually, and you plan to live for 30 years after retiring (so that you will receive a total of 31 payments including the first one), what is the value of Social Security's promise? A. $626,590.71 B. $22,760.35 C. $21,271.35 D. $24,353.57

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