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Your Great Uncle Rathbone has sent you a document stating he will give you $300,000 in 20 years. You really love his generosity, but wish

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Your Great Uncle Rathbone has sent you a document stating he will give you $300,000 in 20 years. You really love his generosity, but wish he was so generous right now, as you can hardly afford tuition at CFK. What is the present value of your uncle's gift? Use an annual discount rate of 5%. Round to the nearest dollar. 113,067 $530,660 $300,000, because it is written down right now. $52,146

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