
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Transcribed Image Text:You have an investment worth $38,658 that is expected to make regular monthly payments of $1,130 for 16 months and a special
payment of $X in 11 months. The expected return for the investment is 1.46 percent per month and the first regular payment will be
made in 1 month. What is X? Note: X is a positive number.
Input instructions: Round your answer to the nearest dollar.
$
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