Assume that social security promises you 36000 per year, Financial Management

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Assume that social security promises you 36000 per year

Assume that Social Security promises you $36000 per year starting when you retire 45 years from today? (the first $36000 will get paid 45 years from? now). If your discount rate is 6%, compounded? annually, and you plan to live for 17 years after retiring? (so that you will receive a total of 18 payments including the first? one), what is the value today of Social? Security's promise?

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Financial Management: Assume that social security promises you 36000 per year

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