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In: Finance

We Pay Insurance Co. will pay you $1,100 each quarter for 24 years. You want to...

We Pay Insurance Co. will pay you $1,100 each quarter for 24 years. You want to earn a minimum interest rate of .85 percent per quarter. What is the most you are willing to pay today for these payments?

Solutions

Expert Solution

The most you will be paying today for these payments:-

=PV(rate,nper,pmt)

=PV(0.85%,24*4,-1100)

=71988.60

jeff jeffy answered 2 years ago
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