Business, 23.06.2020 23:01 famouzgal

A rich aunt has promised you $ 3 comma 000 one year from today. In addition, each year after that, she has promised you a payment (on the anniversary of the last payment) that is 2 % larger than the last payment. She will continue to show this generosity for 20 years, giving a total of 20 payments. If the interest rate is 6 %, what is her promise worth today?

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A rich aunt has promised you $ 3 comma 000 one year from today. In addition, each year after that, s...

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