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With a 6% interest rate, which of the two retirement policies will you choose: Policy X: you will receive an equal annual payment of $10,000

With a 6% interest rate, which of the two retirement policies will you choose: Policy X: you will receive an equal annual payment of $10,000 beginning 35 years from now for 10 years. Policy Y: You will receive one lump sum of 100,000 in 40 years from now on

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