Home / Questions / Your friend Tom is the beneficiary of a life insurance policy where he can choose one
Your friend Tom is the beneficiary of a life insurance policy where he can choose one of three options:
1. |
$120,000 in cash upon selecting the option. |
2. |
$6,000 at the end of each quarter for five years. |
3. |
$30,000 in cash plus $9,000 at the end of each quarter for 3years. |
Tom asks you which option to exercise. What option would you suggest? Assume an annual interest rate of 12%. (Show yourwork.)
May 02 2018 Read more Less More
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