$[-/8$ Points$]$

At age $25,$ you start work for a company and are offered two retirement options.

Retirement option $1$: When you retire, you will receive a lump sum of $$30,000$ for each year of service.

Retirement option $2$: When you start to work, the company deposits $$15,000$ into an account with an APR of $12\%$ compounded monthly. When you retire, you get the balance of the account.

At age $55,$ option $1$ will provide a retirement benefit of what amount?

$

At age $55,$ option $2$ will provide a retirement benefit of what amount? Round your answer to the nearest whole dollar.

$

Which option is better if you retire at age $55?$

retirement option $1$

retirement option $2$

At age $65,$ option $1$ will provide a retirement benefit of what amount?

$

At age $65,$ option $2$ will provide a retirement benefit of what amount? Round your answer to the nearest whole dollar.

$

Which option is better if you retire at age $65?$

retirement option $1$

retirement option $2$