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Richie Rich Jr., expects to be granted a trust by his uncle Ronnie Really Rich at the beginning of year 2040. It is currently the
Richie Rich Jr., expects to be granted a trust by his uncle Ronnie Really Rich at the beginning of year 2040. It is currently the end of 2022. He expects this trust to contain $2,500,000. Inflation is currently 8.5% per year. How much does Richie Rich Jr. expect to be granted by Ronnie in today's (end of 2022) dollars (aka- what is the PV of the $2.5M that he will be granted by his rich uncle in 2040)
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