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The Securities Exchange Commission has imposed a fine on a shady trader. The fine calls for annual payments of $650,000, $900,000, and $1.2 million respectively
The Securities Exchange Commission has imposed a fine on a shady trader. The fine calls for annual payments of $650,000, $900,000, and $1.2 million respectively over the next three years. The first payment is due one year from today. The government plans to invest the funds until the final payment is collected and then donate the entire amount, including the investment earnings, to a national securities training center. The government will earn 4.25 percent on the funds held. How much will the national securities training center receive three years from today? $2,844,674.06 $2,510,754.92 $2,884,549.69 $2,965,572.71 $3,115,737.67 OOOO
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