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Your eccentric aunt left you the proceeds from the sale of her art collecction worth $290,000. However, the will stipulates that you will receive $50,000
Your eccentric aunt left you the proceeds from the sale of her art collecction worth $290,000. However, the will stipulates that you will receive $50,000 immediately, and the remainder divided equally at the end of each of the next 15 years. Assuming that you can earn 6% on the money, what is the present value of the payments? What is the present value of the payments? $ (Round to the nearest cent.)
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