You have just won a lawsuit and, as part of the judgement, you will be receiving...

You have just won a lawsuit and, as part of the judgement, you will be receiving semi-annual payments of $20,000 over the next eight years. The first payment will occur six months from today. You plan on investing these payments and you expect to earn a return of 7% p.a. compounded on a monthly basis. The future value of this investment at the end of its time horizon is closest to:

Group of answer choices

$352,565.

$410,392.

$419,421.

$421,140.

Solutions

Expert Solution

jeff jeffy answered 1 year ago

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