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Nick has an investment worth $408,316.20. The investment will make a special payment of X to Nick in 4 months from today and the investment
Nick has an investment worth $408,316.20. The investment will make a special payment of X to Nick in 4 months from today and the investment also will make regular, fixed monthly payments of $2,570.00 to Nick forever. The expected return for the investment is 1.07 percent per month and the first regular, fixed monthly payment of $2,570.00 will be made to Nick in one month from today. What is X, the amount of the special payment that will be made to Nick in 4 months?
An amount less than $133,500.00 or an anmount greater than $471,500.00 | ||
An amount equal to or greater than $133,500.00 but less than $169,000.00 | ||
An amount equal to or greater than $169,000.00 but less than $213,500.00 | ||
An amount equal to or greater than $213,500.00 but less than $324,500.00 | ||
An amount equal to or greater than $324,500.00 but less than $471,500.00 |
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