Sam was injured in an accident and the insurance company


Sam was injured in an accident, and the insurance company has offered him the choice of $35,300 per year for 39 years, with the first payment being made today, or a lump sum. If a fair return is 8.85%, how large must the lump sum be to leave him as well off financially as with the annuity? State your answer in whole dollars.

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Sam was injured in an accident and the insurance company
Reference No:- TGS01369932

Expected delivery within 24 Hours