At the reading of the will, you learn that your inheritance will allow you to receive the amount of $480 at the end of each year for a total of 14 consecutive years. However, because of your young age, these amounts will not begin until the end of 5 years. If the interest rate is 9%, what is the equivalent present value of the inheritance?

Answer rating: 100% (QA)

Computation of PV at year 5 end We have t... View the full answer