Chandler is moaning because his wealthy aunt just passed and left her cat the following estate:...
Chandler is moaning because his wealthy aunt just passed and left her cat the following estate: $50,000 per year for the next fifteen years, with the first cash flow today. At a discount rate of 3.2%, what is the pretty kitty’s estate worth today?
A). $588,352.84
B). $607,180.14
C). $750,000.00
D). $774,000.00
Homework Answers
Present value of annuity due=(1+rate)*Annuity[1-(1+interest rate)^-time period]/rate
=1.032*50,000[1-(1.032)^-15]/0.032
=50,000*12.1436027
=$607180.14(Approx).
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Chandler is moaning because his wealthy aunt just passed and
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