How much have you actually inherited

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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?

Reference no: EM132506276

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