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You are planning to retire soon. Your company gives you the choice of taking a one-time payment of the value of your pension plan. Assuming

You are planning to retire soon. Your company gives you the choice of taking a one-time payment of the value of your pension plan. Assuming you would recieve $20,000 per year and plan to live for another 30 years, what would be the value of the one-time payment if the discount rate is 3%?

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