Question
Rita has an investment worth $95,554.80. The investment will make a special payment of X to Rita in 2 months from today and the investment
Rita has an investment worth $95,554.80. The investment will make a special payment of X to Rita in 2 months from today and the investment also will make regular, fixed monthly payments of $1,290.00 to Rita forever. The expected return for the investment is 2.43 percent per month and the first regular, fixed monthly payment of $1,290.00 will be made to Rita in one month from today. What is X, the amount of the special payment that will be made to Rita in 2 months?
An amount less than $42,550.00 or an anmount greater than $111,650.00
An amount equal to or greater than $42,550.00 but less than $47,100.00
An amount equal to or greater than $47,100.00 but less than $52,650.00
An amount equal to or greater than $52,650.00 but less than $74,350.00
An amount equal to or greater than $74,350.00 but less than $111,650.00
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