What is the equivalent present value of the prize

Reference no: EM13308740

At the reading of the will, you learn that your inheritance will allow you to receive the amount of $5600 at the end of each year for a total of 19 consecutive years. However, because of your young age, these amounts will not begin until the end of 6 years. If the interest rate is 5.15%, what is the equivalent present value of the prize?

Reference no: EM13308740

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