Julie inherited $500,000 from a relative that is payable to her when she turns 21, which...

 

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Julie inherited $500,000 from a relative that is payable to her when she turns 21, which is 11 years from now Your bank has agreed to buy the inheritance and give her the cash now, and uses a 12% discount rate for the transaction, compounded quarterly. How much will Julie get now for this transaction? (4 points) Julie inherited $500,000 from a relative that is payable to her when she turns 21, which is 11 years from now Your bank has agreed to buy the inheritance and give her the cash now, and uses a 12% discount rate for the transaction, compounded quarterly. How much will Julie get now for this transaction? (4 points)

Answer rating: 100% (QA)

PV FV 1 rnnt In this case FV 500000 r 12 annual ... View the full answer