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Calculate the present values of each alternative

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Question - Your mother is planning to retire this year. Her firm has offered her a lump-sum retirement payment of $45,000 or a $6,000 lifetime annuity-whichever she chooses. Your mother is in reasonably good health and expects to live for at least 17 more years. Calculate the present values of each alternative, assuming that an 7 percent interest rate is appropriate to evaluate the annuity.

Reference no: EM133146969

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