Problem #6 (TVM): Tom's employee, Sam, was injured in an accident, and the insurance company has offered him the choice of $24,000 per year for 15 years, with the first payment being at the END of the first year. His second option is a lump sum. If a fair return is 7.5%, how large must the lump sum be to leave him as well off financially as with the annuity? Problem #6 (TVM): Tom's employee, Sam, was injured in an accident, and the insurance company has offered him the choice of $24,000 per year for 15 years, with the first payment being at the END of the first year. His second option is a lump sum. If a fair return is 7.5%, how large must the lump sum be to leave him as well off financially as with the annuity