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Business, 19.10.2021 06:40 beck1013

At age 20, you start to work for a company and are offered two rather fanciful retirement options. Retirement Option 1: When you retire, you will be paid a lump sum of $25,000 for each year of service. Retirement Option 2: When you start to work, the company will deposit $8,000 into an account that pays a monthly interest rate of 1.00%. When you retire, the account will be closed and the balance given to you. Which retirement option is more favorable to you if you retire at age 65

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