Recall the Application About Opting for a Lump Sum of $500,000

question 129

Multiple Choice

Recall the Application about opting for a lump sum of $500,000 for your retirement or $35,000 per year for the rest of your life to answer the following question(s) .
-Assume the retiree had a third option: receive a lump sum of $750,000 five years from now. If the interest rate is 4 percent, approximately how much is the future $750,000 to be received in 5 years worth today?

• A) $586,445
• B) $616,445
• C) $630,000
• D) $646,555

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