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Today is your 30th birthday and you must choose between two retirement options. The first option will provide you with 10 equal annual payments of

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Today is your 30th birthday and you must choose between two retirement options. The first option will provide you with 10 equal annual payments of $100,000 beginning on your 65 th birthday. The second option will provide you with one payment of $1,000,000 on your 70th birthday. If the interest rate is 6 percent per year and you are assured of living to at least 80 years of age, which option is better? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

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