of wages Of per plus on the lost wages to the end of the two years. What effective rate of interest has the court allowed on the lost wages?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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In an insurance settlement for a physical injury, a court awarded Ms. Stevenson
$100,000 for past two years' loss of wages of $4000 per month plus interest on the
lost wages to the end of the two years. What effective rate of interest has the court
allowed on the lost wages?
Transcribed Image Text:In an insurance settlement for a physical injury, a court awarded Ms. Stevenson $100,000 for past two years' loss of wages of $4000 per month plus interest on the lost wages to the end of the two years. What effective rate of interest has the court allowed on the lost wages?
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