Ahmad's widow receives $100000

Finance Aug 28, 2020

Ahmad's widow receives $100000. She intend to receive monthly salary. The insurance company is welling to pay her $2500 monthly. The interest rate is J12-6%. What is the concluding payment O a $2,4182.46 O b. $1,482.46 O $1,842.46 O d. 54,182.46

Expert Solution

We see that the concluding payment is given as=FV(6%/12,44,2500,-100000)
=1842.45939515

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