$2$ Summ $2024$

Question $10,$ B$4-24($book$/$static$)$

HW Score: $76\%,19$ of $25$ points

Part $2$ of $2$

Points: $0$ of $2$

A rich relative has bequeathed you a growing perpetuity. The first payment will occur in one year and will be $$1,000.$ Each year after that, you will receive a payme the anniversary of the last payment that is $8\%$ larger than the last payment. This pattern of payments will go on forever. If the interest rate is $12\%$ per year,

a$.$ What is today's value of the bequest?

b$.$ What is the value of the bequest immediately after the first payment is made?

a$.$ What is today's value of the bequest?

Today's value of the bequest is $ $($Round to the nearest cent.$)$

b$.$ What is the value of the bequest immediately after the first payment is made?

The value of the bequest immediately after the first payment is made is $ $($Round to the nearest cent.$)2$ Summ $2024$

Question $10,$ B$4-24($book$/$static$)$

HW Score: $76\%,19$ of $25$ points

Part $2$ of $2$

Points: $0$ of $2$

A rich relative has bequeathed you a growing perpetuity. The first payment will occur in one year and will be $$1,000.$ Each year after that, you will receive a payme the anniversary of the last payment that is $8\%$ larger than the last payment. This pattern of payments will go on forever. If the interest rate is $12\%$ per year,

a$.$ What is today's value of the bequest?

b$.$ What is the value of the bequest immediately after the first payment is made?

a$.$ What is today's value of the bequest?

Today's value of the bequest is $ $($Round to the nearest cent.$)$

b$.$ What is the value of the bequest immediately after the first payment is made?

The value of the bequest immediately after the first payment is made is $ $($Round to the nearest cent.$)$