why is it 1000 on the timeline and 2000 in the pv formula

4-24. X3 A rich relative has bequeathed you a growing perpetuity. The first payment will occur in wie forever. If the interest rate is 15% per year, receive a payment that is 8% larger than the last payment. This pattern of payments will go on What is today's value of the bequest? b. What is the value of the bequest immediately after the first payment is made? a. a. Timeline: 0 3 2,000 2,000(1.08) 2,000(1.08) Using the formula for the PV of a growing perpetuity gives: 2,000 $28, 571.43 0.15-0.08 PV = b. Timeline: 1 2 3 2 3 Bert 1,000 1,000(1.08) 1,000(1.08) Using the formula for the PV of a growing perpetuity gives: why? 2,000(1.08) PV $30,857.14 0.15-0.08