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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