The beneficiary of a disability insurance policy elected to receive a series of annual payments rather than a lump sum payment of $30,000. The policy terms provide for 10 equal payments of $5,000. At the time of his/her decision the beneficiary could have invested in a certificate of deposit from a local bank with an interest rate of 6% with a 10-year maturity. Which of the following answers is correct: o The present value of the payments is negative as all payments occur in future years The present value of the payments is $36,800 ton of P S G and ! O The future value of the payments is $65,904 The beneficiary could have invested the lump sum in a 10 year T-Bond with a par value of $70,000 and accumulated more value. ob,c, and d are all correct