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Your Company Is Downsizing and Offers You a Bonus If

Question 100

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Your company is downsizing and offers you a bonus if you retire early. You have a choice between a lump sum of $52,000 now or an income stream of $6200 per year for 10 years. You plan to use the money for a trip around the world in 10 years. You can earn interest at a continuous rate of 4%. Which option would be the better choice, and how much will you have for your trip?

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