Solved: You learn that your inheritance will allow you to receive, Finance Basics

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You learn that your inheritance will allow you to receive

You learn that your inheritance will allow you to receive the amount of $5800 at the end of each year for a total of 12 consecutive years. However, because of your young age, these amounts will not begin until the end of 7 years. If the interest rate is 5.05%, what is the equivalent present value of the inheritance?

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Finance Basics: You learn that your inheritance will allow you to receive

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