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Homework: Chapter 4 Homework Save 16 of 21 (14 complete) HW Score: 66.67%, 14 of 21 pts Score: 0 of 1 pt P4-28 (similar to)
Homework: Chapter 4 Homework Save 16 of 21 (14 complete) HW Score: 66.67%, 14 of 21 pts Score: 0 of 1 pt P4-28 (similar to) 5 Question Help A rich aunt has promised you $4,000 one year from today. In addition, each year after that, she has promised you a payment on the anniversary of the last payment) that is 4% larger than the last payment. She will continue to show this generosity for 20 years, giving a total of 20 payments. If the interest rate is 4%, what is her promise worth today? The present value is $ . (Round to the nearest dollar.) Enter your answer in the answer box and then click Check
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