You have an investment worth $56,618 that is expected to make regular monthly payments of $1,579 for 25 months and a special payment of $X in 8 months. The expected return for the investment is 0.76 percent per month and the first regular payment will be made today What is X? Note: X is a positive number. Input instructions: Round your answer to the nearest dollar. $

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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You have an investment worth $56,618 that is expected to make regular monthly payments of $1,579 for 25 months and a special
payment of $X in 8 months. The expected return for the investment is 0.76 percent per month and the first regular payment will be
made today What is X? Note: X is a positive number.
Input instructions: Round your answer to the nearest dollar.
$
Transcribed Image Text:You have an investment worth $56,618 that is expected to make regular monthly payments of $1,579 for 25 months and a special payment of $X in 8 months. The expected return for the investment is 0.76 percent per month and the first regular payment will be made today What is X? Note: X is a positive number. Input instructions: Round your answer to the nearest dollar. $
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