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You are the recipient of a growing endowment that will last forever. The first payment you'll receive will start today (year O) and will be

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You are the recipient of a growing endowment that will last forever. The first payment you'll receive will start today (year O) and will be of $500. Each year after that, you will receive a payment on the anniversary of the last payment that is 4% larger than the previous payment. This pattern of payments will go on forever. What is the value of this perpetuity 5 years from now (year 5) given that the interest rate is 6%? O $30,416.3 O $25,000.0 $8.333.3 $31,633.0

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