A. Greg Wickenson was injured in an accident, and the insurance company has offered him the choice of $55,000 per year f

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answerhappygod
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A. Greg Wickenson was injured in an accident, and the insurance company has offered him the choice of $55,000 per year f

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A. Greg Wickenson was injured in an accident, and the insurance
company has offered him the choice of $55,000 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?
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