You have inherited a trust fund that will pay you $3,500 per year for the first 10 years, and $4,000 per year for the following
You have inherited a trust fund that will pay you $3,500 per year for the first 10 years, and $4,000 per year for the following 10 years. (20 years in total, payments made at the end of each year). REQUIRED: What is the present value of the trust fund? Use an 7.45% discount rate. Round your answer to the nearest dollar. Show your calculations.
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Authors: Andrew Chen
1st Edition
0062969749, 978-0062969743
