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A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $ 4 comma 0 0
A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $ comma Each year after that, you will receive a payment on the anniversary of the last payment that is nbsp larger than the last payment. This pattern of payments will go on forever. Assume that the interest rate is 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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