.Pauline has an inheritance that promises to pay her 10 year-end amounts of $5,000 starting exactly 3 years and 6 months from today. If she earns 4% p.a., how much is the inheritance worth in present-day dollars?

A scholarship fund earns an effective annual rate of 7%. How much does the scholarship fund need today if the fund pays an amount of $5,000 in one year and grows by 2% per annum for an infinite period?

Answer rating: 100% (QA)

solution Firest preoblem PV R Wheree R 5000 amount of each payment M 4 Interes... View the full answer