What is the equivalent present value of the prize

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Reference no: EM131015960

At the reading of the will, you learn that your inheritance will allow you to receive the amount of $5800 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 6 years. If the interest rate is 5.80%, what is the equivalent present value of the prize? $ Place your answer to the nearest dollars amount. DO NOT USE A DOLLAR SIGN OR A COMMA IN YOUR ANSWER. Work your analysis using at least four decimal places of accuracy.

Reference no: EM131015960

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