You have inherited a rich Aunt who lived in South Africa for the past 30 years. however,
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Question:
You have inherited a rich Aunt who lived in South Africa for the past 30 years. however, your has put some terms for a collection of the inheritance. These terms are the following.
a) for the first 10 years you will collect a constant amount of $1200 at the end of every month.
b) Therefore, you will collect a constant amount of $3000 at the end of each month forever.
The current interest rate in the market is 6%.
Question. Find how much your inheritance is worth in today's value.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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