In an insurance settlement for bodily injury, a court
awarded Mr. Goodman $103,600 for two years’...

Question

In an insurance settlement for bodily injury, a court
awarded Mr. Goodman $103,600 for two years’ loss of wages of $4000 per month
plus interest on the lost wages to the end of the two years. What effective
rate of interest has the court allowed on the lost wages?

Baljit · Accepted Answer

· Total Amount awarded by court,T=$103600
Per month  salary of mr.Goodman,

In an insurance settlement for bodily injury, a court awarded Mr. Goodman $103,600 for two years’ loss of wages of $4000 per month plus interest on the lost wages to the end of the two years. What...

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