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do in excel Assume a rich relative has just promised to give you money once a year. The first payment will occur one year and
do in excel Assume a rich relative has just promised to give you money once a year. The first payment will occur one year and four months from today and your final payment will occur six years and four months from today. The first payment will equal $1000 and the payments will grow by 2% each. If the interest rate is 5.5% per year, what amount of money today would be equivalent to this gift you have received?
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