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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
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 made today, or 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? how do you solve this question with a financial calculator
i know the answer is 227,739.69 but need to know how you get it using financial calculator. Thank you
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