Q1. A) Your client is evaluating between the following two retirement options: Option 1: Pays a lump sum of $2.8 million in 9 years. Option 2: A 15-year annuity at $150,000 per year starting today. If your client's required rate of return is 7.5 percent per year, discuss the option she must choose? (5 marks) B) Raza plans to buy a car worth $5x,000 today (where x is the last digit of your roll number). She is required to pay 18.5 percent as a down payment and the remainder is to be paid as a monthly payment over the next 15 months with the first payment due at t= 1. Given that the interest rate is 8.5% per annum compounded monthly, compute the approximate monthly payment