A victim of a car accident won a judgement in september 2023 for wages lost over a 2 year period that ended December 2022, nine months before the date of the judgement. In addition the court awarded interest at 3% compounded monthly on the value of the lost wages from December 2022 to September 2023. If the monthly salary was $5500, what was the total amount of the award ( on the date of the judgement)?
Added by John R.
Step 1
- Monthly salary = $5,500 - Number of months in 2 years = 2 × 12 = 24 months - Total lost wages = 24 × $5,500 = $132,000 Show more…
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