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QUESTION
The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $50,000 today or...
The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $50,000 today or receive payments of $641 a month for ten years. You can earn 6.5 percent on your money. Which option should you take and why?
