question archive An advertised investment product promises to pay $530 per month for 50 months commencing in 1 month from today
An advertised investment product promises to pay $530 per month for 50 months commencing in 1 month from today
Subject:FinancePrice: Bought3
An advertised investment product promises to pay $530 per month for 50 months commencing in 1 month from today. If the investment earns 11.8% p.a compounding monthly, how much will the investment product cost today? (round to nearest cent; don’t use $ sign or commas) a. $1669.55 b. $1866.56 c. $20854.50 d. $21059.57
