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You are the beneficiary of a life insurance policy. the insurance company offers two options for receiving the proceeds: a lump sum of $50,000 today or payments of $550 a month f…

You are the beneficiary of a life insurance policy. the insurance company offers two options for receiving the proceeds: a lump sum of $50,000 today or payments of $550 a month f…
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You are the beneficiary of a life insurance policy. the insurance company offers two options for receiving the proceeds: a lump sum of $50,000 today or payments of $550 a month for ten years. if you can earn 6 percent, compounded monthly, which option should you take and why?

User Plastic Rabbit
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Take the $550 per month for monthly income as after ten years it would reach the same amount just in a longer period of time
User Varuog
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