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At the time of his retirement Mr.x is given a choice between two...

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Accounting

At the time of his retirement Mr.x is given a choice between two alternatives; i) annual pension of 10,00,000 as long as he lives, and ii) lump sum payment of Rs.60,00,000. If Mr. X expects to live for 15 years more, and the rate of interest is 10%, which alternative should he select?
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