A rich uncle has promised you 5 000 dollars in six-month's time from today. In addition, each semi-annual after that, he promised you a payment (on the semi-anniversary of the last payment) that is 1% larger than the last payment (i.e., payment grows at 1% per semi-annual). He will continue to show his generosity for 20 years, with the last payment occurring at the end of 20th year. Assuming an effective annual rate (EAR) of 5.0625%, what is his promise worth today? (round to the nearest dollar) [Type only the final answer into the response box below (NOT into the Notes box) and in pure numeric format. Do NOT use %/$ signs, commas or spaces (e.g., only enter 10 if it is $9.51)]

A rich uncle has promised you 5000 dollars in six-month's time from today, In addition, each semi-annual after that, he promised you a payment (on the semi-anniversary of the last payment) that is 1% larger than the last payment (i.e. payment grows at 1% per semi-annual). He will continue to show his generosity for 20 years, with the last payment occurring at the end of 20 th year. Assuming an effective annual rate (EAR) of 5.0625%, what is his promise worth today? (round to the nearest dollar) [Type only the final answer into the response box below (NOT into the Notes box) and in pure numeric format. DO NOT use %/$ signs, commas or spaces (e.g., only enter 10 if it is $9.51) ]