A rich donor gives a hospital $100000 one year from today. Each year after that, the hospital will receive a payment 4% larger than the previous payment, with the last payment occurring in 6 years' time.

What is the present value (PV) of this donation, given that the interest rate is 5%?

Answer rating: 100% (QA)

PV 100000 11051 100000 1041052 100000 10421053 1000... View the full answer