A rich relative has bequeathed you a payment of 1000 one, Finance Basics

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A rich relative has bequeathed you a payment of 1000 one

A rich relative has bequeathed you a payment of $1,000 one year from now. Each year after that, you will receive a payment on the anniversary of the last payment that is 8% larger than the previous payment. This pattern of payments will go on forever. If the interest rate is 12% per year:

a) What is today's value of the bequest?
b) What is the value of the bequest immediately after the first payment is made?

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Finance Basics: A rich relative has bequeathed you a payment of 1000 one

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Finance Basics: A rich relative has bequeathed you a payment of 1000 one

Reference No:- TGS0595944

Have a Question? (oR Write a Review)

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Finance Basics: A rich relative has bequeathed you a payment of 1000 one

Reference No:- TGS0595944

Recent Questions Asked Finance Basics

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