Annuities: Present Value 6. Your uncle named you as the beneficiary of his life insurance...
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Finance
Annuities: Present Value
6. Your uncle named you as the beneficiary of his life insurance policy. The insurance company gives you a choice of AED300,000 today or a 15-year annuity of AED30,000 at the end of each year.
Which one will you accept, if the discount rate is 7%. Why?
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