You inherit $11,000, which will be paid to you after the probate hearing. You expect to...
You inherit $11,000, which will be paid to you after the probate hearing. You expect to receive the money one year from today. The interest rate is 10%. What is the present value of your inheritance?
Homework Answers
Answer
Formula :
PV = A/(1 + r)n
where, PV = Present Value, A = amount after n years = 11000 , r = interest rate = 10% = 0.10 and n = time period = 1
=> PV = 11000/(1 + 0.10)1= 10,000
Hence, the present value of your inheritance is $10000
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