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Your rich uncle has promised to invest $500,000 in your startup 3 years from today. Of course, you need a regular source of funds now
Your rich uncle has promised to invest $500,000 in your startup 3 years from today. Of course, you need a regular source of funds now to pay operating expenses and have entered into discussions with a commercial bank to provide you with an annual payment starting immediately and lasting for 10 years at a rate of 6.0%. You will compensate the bank for this series of payments by turning over the money from your uncle when he provides it to you. How much money per year will the bank provide?
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