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Business, 10.10.2019 17:30 TVASALLO31

Assume that social security promises you $ 41,000 per year starting when you retire 45 years from today (the first $ 41,000 will get paid 45 years from now). if your discount rate is 9 %, compounded annually, and you plan to live for 18 years after retiring (so that you will receive a total of 19 payments including the first one), what is the value today of social security's promise?

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Assume that social security promises you $ 41,000 per year starting when you retire 45 years from to...

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