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A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be$ 2 , 0 0 0

A rich relative has bequeathed you a growing perpetuity. The
first payment will occur in a year and will be$2,000.Each year afterthat, you will receive a payment on the
anniversary of the last payment that is2%larger than the last payment. This pattern of payments will go
on forever. Assume that the interest rate is15%per year.a. What istoday's value of thebequest?b. What is the value of the bequest immediately after the first
payment ismade?

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