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Your crazy uncle left you a trust that will pay you $24,000 per year for the...

Your crazy uncle left you a trust that will pay you $24,000 per year for the next 17 years with the first payment received one year from today. If the appropriate interest rate is 5.7 percent, what is the value of the payments today?

Multiple Choice

  • $256,970.38

  • $230,559.54

  • $247,617.69

  • $265,536.06

  • $244,121.86

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Answer #1

rate positively ..

We have to use the financial calculator to solve this
put in calculator -
FV 0
PMT -24000
I 5.70%
N 17
Compute PV $256,970.38
Ans = $256,970.38
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