Question
Betty has an investment worth $175,518.20. The investment will make a special payment of X to Betty in 4 months from today and the investment
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Betty has an investment worth $175,518.20. The investment will make a special payment of X to Betty in 4 months from today and the investment also will make regular, fixed monthly payments of $1,590.00 to Betty forever. The expected return for the investment is 1.54 percent per month and the first regular, fixed monthly payment of $1,590.00 will be made to Betty in one month from today. What is X, the amount of the special payment that will be made to Betty in 4 months?
An amount less than $56,800.00 or an anmount greater than $198,750.00
An amount equal to or greater than $56,800.00 but less than $72,450.00
An amount equal to or greater than $72,450.00 but less than $93,350.00
An amount equal to or greater than $93,350.00 but less than $139,450.00
An amount equal to or greater than $139,450.00 but less than $198,750.00
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