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Jacqueline has an investment worth $106,340.40. The investment will make a special payment of X to Jacqueline in 3 months from today and the investment
Jacqueline has an investment worth $106,340.40. The investment will make a special payment of X to Jacqueline in 3 months from today and the investment also will make regular, fixed monthly payments of $2,180.00 to Jacqueline forever. The expected return for the investment is 2.46 percent per month and the first regular, fixed monthly payment of $2,180.00 will be made to Jacqueline in one month from today. What is X, the amount of the special payment that will be made to Jacqueline in 3 months?
An amount less than $17,800.00 or an anmount greater than $101,850.00 | ||
An amount equal to or greater than $17,800.00 but less than $28,200.00 | ||
An amount equal to or greater than $28,200.00 but less than $66,350.00 | ||
An amount equal to or greater than $66,350.00 but less than $97,550.00 | ||
An amount equal to or greater than $97,550.00 but less than $101,850.00 |
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