I am not sure what's the correct approach to this question. Can I get some guidance please??
As part of a retirement package for a local oil company, Jerry will receive $36,000 every 6 months for the next 20 years.
If the funds to fund this pension are invested at a rate of , how much money is there initially in the fund?
I am getting an equivalent interest rate: , and a present value for the total payments to be 991,741. Whats the correct thing to do??