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nadine is the beneficiary of 1,000,000 insurance policy. instead of taking the money as lump sum, she opted to recieve a monthly stipend over a period of 10 years. if the insurance policy pays interest of 5% compounded annually, what will be her monthly stipend?

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Answer:

nadine is the beneficiary of 1,000,000 insurance policy. instead of taking the money as lump sum, she opted to recieve a monthly stipend over a period of 10 years. if the insurance policy pays interest of 5% compounded annually, what will be her monthly stipend?

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