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An insurance broker calls you and despite your finance professor's warnings, you listen to their...

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Finance

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An insurance broker calls you and despite your finance professor's warnings, you listen to their offer. The offered insurance product requires you to make payments every four month of $141 and do so for the next 25 years (1st payment is 4 months from today). The insurance product offers to meet your required return of 7 % per year (i.e. effective), and pay interest every four month. What amount of money should the insurance product promise you at the end of 25 years? (Please make sure to use at least up to 6 decimal points for the I/Y input)

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