Question
Richard has an investment worth $233,777.90. The investment will make a special payment of X to Richard in 3 months from today and the investment
Richard has an investment worth $233,777.90. The investment will make a special payment of X to Richard in 3 months from today and the investment also will make regular, fixed monthly payments of $2,670.00 to Richard forever. The expected return for the investment is 2.17 percent per month and the first regular, fixed monthly payment of $2,670.00 will be made to Richard in one month from today. What is X, the amount of the special payment that will be made to Richard in 3 months?
An amount less than $93,000.00 or an anmount greater than $273,000.00 | ||
An amount equal to or greater than $93,000.00 but less than $111,500.00 | ||
An amount equal to or greater than $111,500.00 but less than $125,500.00 | ||
An amount equal to or greater than $125,500.00 but less than $179,000.00 | ||
An amount equal to or greater than $179,000.00 but less than $273,000.00 |
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