Suppose you have an annuity from an insurance policy and you have the option of being paid
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Suppose you have an annuity from an insurance policy and you have the option of being paid \(\$ 250\) per month for 20 years or having a lump-sum payment of \(\$ 25,000\). Which has more value if the current rate of return is \(4.5 \%\), compounded monthly?
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