Question
Justin has an investment worth $223,187.30. The investment will make a special payment of X to Justin in 2 months from today and the investment
Justin has an investment worth $223,187.30. The investment will make a special payment of X to Justin in 2 months from today and the investment also will * make regular, fixed monthly payments of $2,690.00 to Justin forever. The expected return for the investment is 2.29 percent per month and the first regular, fixed monthly payment of $2,690.00 will be made to Justin in one month from today. What is X, the amount of the special payment that will be made to Justin in 2 months? An amount less than $106,500.00 or an amount greater than $265,500.00 An amount equal to or greater than $106,500.00 but less than $113,500.00 An amount equal to or greater than $113,500.00 but less than $119,500.00 An amount equal to or greater than $119,500.00 but less than $170,500.00 An amount equal to or greater than $170,500.00 but less than $265,500.00
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