What is pv at the start of year 1 of your uncle’s generosity

Reference no: EM131427047

Your rich uncle has recently passed away and left you an inheritance in the form of a varying perpetuity. You will receive $2,000 per year from year 3 through year 14, $5,000 per year from year 15 through year 22, and $3,000 per year thereafter. At a rate of 7 percent compounded annually, what is the PV at the start of year 1 of your uncle's generosity?

Reference no: EM131427047

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