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Business, 30.03.2020 17:29 zeesharpe05

An insurance company has offered your friend the choice of $45,000 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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An insurance company has offered your friend the choice of $45,000 per year for 15 years, with the f...
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