You are at retirement age and one of your benefit options


Please show work on how to solve with a financial calculator,

You are at retirement age and one of your benefit options is to accept a monthly annuity of $6,900 for 20 years. What lump sum settlement, if paid today, would have the same present value as the $6,900 monthly annuity? Assume a 5 percent discount rate.

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Financial Management: You are at retirement age and one of your benefit options
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