Kurt Will Receive $1,200 a Month for Five Years from an Insurance

question 119

Multiple Choice

Kurt will receive $1,200 a month for five years from an insurance settlement.The first payment was received today.If he invests the full amount of each payment at a guaranteed 6.15 percent rate, how much will he have saved at the end of the five years?

• A)$76,003.18
• B)$88,219.97
• C)$91,388.71
• D)$84,478.33
• E)$95,115.16

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Definitions:

Managed Care Plans

Health insurance plans that contract with health care providers and medical facilities to provide care for members at reduced costs.

1994

A year notable for various global events, but in this context, it lacks specificity without further detail regarding its relevance.

Spending

The act of using money to purchase goods or services.

Costs

Costs refer to the amount of money required to purchase goods or services, or the expenditures incurred in the production of goods or services.