Question
Sam was injured in an accident, and the insurance company has offered him the choice of $20,000 per year for 15 years, with the first
Sam was injured in an accident, and the insurance company has offered him the choice of $20,000 per year for 15 years, with the first payment being made today, or a lump sum payment. If a fair return is 7.5%, how large must the llump sum be to leave him as well off financially as with the annuity?
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Economics And Personal Finance
Authors: Irvin Tucker, Joan Ryan
1st Edition
1133562108, 978-1133562108
