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:

Responsibility

The state or fact of having a duty to deal with something or of having control over someone.

Open Adoptions

An adoption process where there is some level of contact or information exchange between the biological and adoptive families.

Disappointed

A feeling of dissatisfaction or sadness due to unmet expectations or outcomes.

Principle Reasons

The fundamental or primary causes and motivations behind an action or situation.