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 Of

匿名用户 最后更新于 2021-11-29 14:53 金融Finance

Sam was injured in an accident, and the insurance company hasoffered him the choice of $24,000 per year for 15 years, with thefirst payment being made today, or a lump sum. If a fair return is7.5%, how large must the lump sum be to leave him as well offfinancially as with the annuity? how do you solve this questionwith a financial calculator

i know the answer is 227,739.69 but need to know how you get itusing financial calculator. Thank you

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