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At age 2 5 , you start work for a company and are offered two retirement options. Retirement option 1 : When you retire, you

At age 25, you start work for a company and are offered two retirement options.
Retirement option 1: When you retire, you will receive a lump sum of $30,000 for each year of service.
Retirement option 2: When you start to work, the company deposits $15,000 into an account with an APR of 12% compounded monthly. When you retire, you get the balance of the account.
At age 59, option 1 will provide a retirement benefit of what amount?
$
At age 59, option 2 will provide a retirement benefit of what amount? Round your answer to the nearest whole dollar.
$
Which option is better if you retire at age 59?
retirement option 1
retirement option 2
At age 69, option 1 will provide a retirement benefit of what amount?
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