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After completing a long and successful career as senior vice president for a large bank. you are preparing for retirement. After visiting the human resources
After completing a long and successful career as senior vice president for a large bank. you are preparing for retirement. After visiting the human resources office. you have found that you have several retirement options to choose from: a. An immediate cash payment of $1.05 million. I]. Payment of $69,000 per year for life. c. Payment of $59,000 per year for 4 years and then $T9.000 per year for life (this option is intended to give you some protection against inflation). You believe you can earn 9 percent on your investments and your remaining life expectancy is 8 years
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