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Sam was injured in an accident, and the insurance company has offered him the choice of$46,ooo per year for 15 years, with the first payment
Sam was injured in an accident, and the insurance company has offered him the choice of$46,ooo 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? O a. $536,896.32 O b. $541,261.33 O c. $453,961.11. O d. $475,786.17 O e. $436,501.07
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