Question
Kris will receive $800 a month for the next five years from an insurance settlement. The intrest rate is 4 percent, compounded monthly, for the
Kris will receive $800 a month for the next five years from an insurance settlement. The intrest rate is 4 percent, compounded monthly, for the first two years and 5 percent, compouned monthly, for the final three years. What is settlement worth today?
A.$36,003.18
B.$38,219.97
C. 41,388.71
D 43,066.22
E. 45,115.16
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The Geography Of Finance
Authors: Gordon L. Clark, Darius Wójcik
1st Edition
0199213364, 978-0199213368
