Question

Marlon has just won some money on a game show! He has the option to take a lump sum payment of $625,000 now or get paid an annuity of $4,500 per month for the next 15 years. Assuming the growth rate of the economy is 3.9% compounding annually over the next 15 years, which is the better deal for Marlon and by how much?

Lump Sum: by $299,464.04

Lump Sum: by $20,387.02

Annuity: by $185,000.00

Annuity: by $20,387.02

Answer 1

Yes?

Answer 2

im here

Answer 3

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Answer 4

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Answer 5

Please HELP!!!