Question
Your mother is planning to retire this year. Her firm has offered her a lump-sum retirement payment of $50,000 or a $6000 lifetime annuity- whichever
Your mother is planning to retire this year. Her firm has offered her a lump-sum retirement payment of $50,000 or a $6000 lifetime annuity- whichever she chooses. Your mother is in reasonably good health and expects to live for at least 15 more years. which option should she choose, assuming that an 8 percent interest is appropriate to evaluate the annuity?
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Focus On Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
5th Edition
0077861744, 978-0077861742
