Question
Melvin has an investment worth $311,956.50. The investment will make a special payment of X to Melvin in 4 months from today and the investment
Melvin has an investment worth $311,956.50. The investment will make a special payment of X to Melvin in 4 months from today and the investment also will make regular, fixed monthly payments of $2,870.00 to Melvin forever. The expected return for the investment is 1.38 percent per month and the first regular, fixed monthly payment of $2,870.00 will be made to Melvin in one month from today. What is X, the amount of the special payment that will be made to Melvin in 4 months?
An amount less than $90,000.00 or an anmount greater than $341,500.00 | ||
An amount equal to or greater than $90,000.00 but less than $104,500.00 | ||
An amount equal to or greater than $104,500.00 but less than $165,000.00 | ||
An amount equal to or greater than $165,000.00 but less than $260,500.00 | ||
An amount equal to or greater than $260,500.00 but less than $341,500.00 |
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