Kendall has been successful in business and she is now doing some planning for her family estate. She would like to make
Posted: Wed Jul 06, 2022 11:47 am
Kendall has been successful in business and she is now doingsome planning for her family estate. She would like to make a lumpsum investment today in a fund that would pay her family's estate$2,000 at the beginning of every month forever. She would like thefund to make its first payment to her estate in 6 years from today.The investment fund pays an interest rate of 6.75% p.a., compoundedsemi-annually, on Kendall's investment. How much would Kendall needto invest today to make sure her family estate is taken careof.