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A company in Texas will buy inheritances before they are actually received. If you will receive $20,000 when a rich aunt dies, how much would

A company in Texas will buy inheritances before they are actually received. If you will receive $20,000 when a rich aunt dies, how much would you accept now for this future inheritance? Money is worth 8% to you, and you guesstimate that your aunt will live 6 more years. (Answer: $12.60K)

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