After a protracted legal case, Joe won a settlement that will pay him $11,000 each year at the end of the year for the next ten years. If the market interest rates are currently 5%, exactly how much should the court invest today, assuming end of year payments, so there will be nothing left in the account after the final payment is made?
 👍
 👎
 👁
 ℹ️
 🚩
Answer this Question
Similar Questions

Financial Mathematics
Use this paycheck to answer the following question. EMPLOYEE PAY STUB EMPLOYER NAME EMPLOYEE NAME Books & Nooks Mark Fitzgerald EMPLOYER ADDRESS EMPLOYEE ADDRESS 1967 University Ave 5618 Maple St Atlanta, GA 30334 Atlanta, GA 30355 EMPLOYER TELEPHONE

Math (PreCal) (Exponential Functions)
A car was valued at $38,000 in the year 2003. The value depreciated to $11,000 by the year 2009. Assume that the car value continues to drop by the same percentage. What will the value be in the year 2013?

Urgent math
A man gets a job with a salary of $40,000 a year. He is promised a $1900 raise each subsequent year. Find his total earnings for a 10year period. I got 59,000 and it is wrong what it the correct answer?

Advanced Algebra
Depreciation: A construction company purchases a bulldozer for $160,000. Each year the value of the buldozer depreciates by 20% of its value in the preceeding year. Let V sub n be the value of the bulldozer.(Let n=1 be the year the bulldozer purchase.) a.)

math
The tax rate on Harriet Walker's $80,000 vacation home is 20 mills. The property is assessed at full value. How much will Harriet Walker pay in taxes this year? A. $640 B. $440 C. $1,600 D. $2,000

math
You have a new mobile phone. The phone costs $140 and then you pay for a one year contract at $15 per month. How much do you pay in total at the end of the year? $

Econ
1. When Joe started his job at the laundromat 5 years ago, his wage was $5.50 an hour. Today his wage is $8.50 an hour. If Joe started his job in the base year, and his real wage is the same as when he started, what is the Consumer Price Index today? 2.

Math
This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $108,123 left to pay on your loan.

psy
1. Barney: Last winter, I slipped on the outside stairs of PineTree CafĂ© and broke my leg. My fall was caused by ice on the stairs that the restaurant failed to remove. Since the restaurant clearly did not provide a safe atmosphere for its customers, I am

MATH
a borrower received a 30 year ARM mortgage loan for 200,000. Rate caps are 3/2/6 the start rate is 3.50% AND the loan adjusts every 12 months for the life of the mortgage, The index used for this mortgage is LIBOR which for this exercise is 3% at the start
Still need help?
You can ask a new question or browse existing questions.