Business, 27.09.2019 00:30 Lesquirrel

Your father is now planning to retire, and his employer has promised him a guaranteed, but fixed, income of $50,000 per year for the rest of his life. if the rate of inflation is 5% per year, how much in current dollars will the payment at the end of 20th year be worth?
(a) $20,293.43
(b) $19,798.47
(c) $18,844.47
(d) $19,315.58
(e) $20,800.77

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