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You are offered a $2,800,000 retirement package to be given in $100,000 payments at the end...

You are offered a $2,800,000 retirement package to be given in $100,000 payments at the end of each of the next 28 years. You are also given the option of accepting a $1,950,000 lump sum payment now. Interest rates are at 3.1% over the next 28 years. Which is a better option?

A.the offered annual payments of $100,000

B. the lump sum of $1,950,000

C.they are the same

D. cannot be determined

Math   Advanced-Math   
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