Multiple Choice
Shawna is considering one of two options. The first option is to receive $1,800 per month for the first 5 years and $2,000 per month for the last 5 years based on an interest rate of 6.5% compounded monthly. The second option is to receive $145,000 now. Determine which option should be chosen to maximize benefits now.
A) First option, as it provides benefit of $165,915.26 compared to $145,000 for second
B) First option, as it provides benefit of $155,915.16 compared to $145,000 for second
C) First option, as it provides benefit of $152,915.16 compared to $145,000 for second
D) First option, as it provides benefit of $150,915.16 compared to $145,000 for second
E) First option, as it provides benefit of $145,915.16 compared to $145,000 for second
Correct Answer:

Verified
Correct Answer:
Verified
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