Annie is planning to retire this year her firm has offered, Ask an Expert

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Annie is planning to retire this year. Her firm has offered her a lump-sum retirement payment of $50,000 or a $6,000 lifetime annuity - whichever she chooses. Your mother is in reasonably good health and expects to live for at least 15 more years. Which option should she choose, assuming that an 8% interest rate is appropriate to evaluate the annuity.

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