Business math annuity help. thank you so much?
P and J are divorced. The devorce settlement stipulated that J pay $525 a month for their children Sue untile turns 8 in 4 years. How much must J set aside to day to meet the settlement? interest 6% a year.
@ RobertM : i do not how to replay for you. But i just figured it out.Yes, It does make sense. This is the problem of Present value of annuity. The result is J has to set $22,354.71 aside from now to meet the settlement.
just Sue only.i’m sorry, i typed wrong.thank you Robert.
until she turns 18. not 8
this question does not make sense, J is to set aside how much to pay P?
J has to pay 525/month, their children implies more than Sue.
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