Question: How do you do the math to get from A to B here? Riley will receive retirement income from their DB plan, and their first-year

How do you do the math to get from A to B here?

Riley will receive retirement income from their DB plan, and their first-year benefit will equal $40,000. If Riley receives a COLA of 4% every year after the first year, and if they live for 25 years, then the Present Value of Riley's 25 years of COLAs, discounted at 2%, would equal approximately $478,258. (1 point) a. True b. False

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