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Finance Question: How much will he have saved at the end of the five years?
Kurt will receive $1,200 a month for five years from an insurance settlement. The first payment
was received today. If he invests the full amount of each payment at a guaranteed 6.15 percent rate,
how much will he have saved at the end of the five years?
I'm trying to do this with my financial calculator.
I thought
N = 60
r = 6.15/12
PMT = 1200...
but i can't get the answer...
Answers to choose from:
A) $88,219.97
B) $84,478.33
C) $76,003.18
D) $91,388.71
E) $95,115.16
1 Answer
- Anonymous4 years ago
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