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Lefty suffered a hand injury in the factory. The insurance company has offered him the choice of either a lump sum today OR $49,000 per
Lefty suffered a hand injury in the factory. The insurance company has offered him the choice of either a lump sum today OR $49,000 per year for 15 years, with the first payment being made today. If Lefty can earn a return of 7.5% per year, how large must the lump sum be to leave him as well off financially as with the annuity? $432,528.87 b. $437,070.42 $464,968.53 d. $506,815.70 a. c
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