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Vince has an investment worth 172,493 dollars.The investment will make a special payment of X to Vince in 7 quarters in addition to making regular
Vince has an investment worth 172,493 dollars.The investment will make a special payment of X to Vince in 7 quarters in addition to making regular quarterly payments to Vince forever.The first regular quarterly payment to Vince is expected to be 3,800 dollars and will be madein 3 months.All subsequent regular quarterly payments are expected to increase by 0.93 percent per quarter forever.The expected return for the investment is 3.26 percent per quarter.What is X, the amount of the special payment that will be made to Vince in 7 quarters?
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