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Your pension plan has two alternative payout methods. The first is a lump sum of $300,000 on your ...

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Your pension plan has two alternative payout methods. The first is a lump sum of $300,000 on your ...

Your pension plan has two alternative payout methods. The first is a lump sum of $300,000 on your 65th birthday. The second is ordinary annuity with the first payment on your 66th birthday and the last payment on your 85th birthday. If the interest rate is 10.5%, then what size annuity payment would equate the value of the two alternatives?
A) $36,447.98
B) $35,911.96
C) $37,059.21
D) $35,237.89
E) $34,687.32

Textbook

Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

Read 97 times

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