Question 1130841
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Option 1: $15000 a year for 37 years: {{{37*15000 = 555000}}}<br>
Option 2: $10000, multiplied by 1.008 (1 plus the monthly interest rate) for (12*37) months: {{{10000(1.008^(12*37)) = 343934.91}}}<br>
For working 37 years, the lump sum of $15000 for each year of service is substantially higher.