Question

You've lost a lawsuit that requires you to pay $1,500 per month for 120 months starting...

You've lost a lawsuit that requires you to pay $1,500 per month for 120 months starting next month. How much would you have to invest today to exactly pay for the lawsuit ,if your investments earn 3.00% APR (compounded monthly)?

Calculate your answer to the nearest dollar. Write only the number with no dollar sign or comma (e.g., 3711)

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Answer #1

Invest today = p = PMT*(1-(1/(1+r^n))/ $155,343 1500*(1-(1/(1.0025^120))/0.0025

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