Why should donald take the money now or take the annuity, Microeconomics

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Why should donald take the money now or take the annuity

Problem

Suppose Donald is expecting an inheritance that will pay him $85,000 at the end of each year for the next 40 years. Since his inheritance is guaranteed money, the bank offers him $1.9 million now? Should Donald take the money now or take the annuity if the interest rate is 3%. Explain.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why should donald take the money now or take the annuity

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