Thursday
April 24, 2014

Homework Help: Personal Finance

Posted by Linda on Tuesday, March 23, 2010 at 9:21pm.

After a protracted legal case, Joe won a settlement that will pay him $11,000 each year at the end of the year for the next ten years. If the market interest rates are currently 5%, exactly how much should the court invest today, assuming end of year payments, so there will be nothing left in the account after the final payment is made?

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