Financially as with the annuity

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Sam was injured in an accident, and the insurance company has offered him the choice of $90,254 per year for 20 years, with the first payment being made today, or a lump sum. If a fair return is 5.88%, how large must the lump sum be to leave him as well off financially as with the annuity? State your answer in whole dollars.

Reference no: EM13729387

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