Question: Your recently departed rich, eccentric uncle has left for you in his will a large sum of money.Unfortunately, rather than give you this sum of

Your recently departed rich, eccentric uncle has left for you in his will a large sum of money.Unfortunately, rather than give you this sum of money immediately, he has instructed the executor of the will to pay you $14287 in year one.Thereafter, this payment is to grow by 3% each year and to be made each year forever.If the appropriate discount rate is 11%, how much have you actually inherited?

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show a step by step explanation as well, thank you.

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