Assume that Social security promises you $32,000 per year starting when you retire 45 years ago from today (the first $3

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answerhappygod
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Assume that Social security promises you $32,000 per year starting when you retire 45 years ago from today (the first $3

Post by answerhappygod »

Assume that Social security promises you $32,000 per year
starting when you retire 45 years ago from today (the first $32,000
will get paid 45 years from now) If your discount rate is 8%,
compounded annually, and you plan to live for 13 years after
retiring (so that you will receive a total of 14 payments including
the first one), what is the value today of social security's
promise?
1- The value today of social security's promise is $____
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