Marion's grandfather's will established a trust that will pay her $1,800 every three months for 12 years. The first payment will be made five years from now, when she turns 20. If money is worth 6.8% compounded quarterly, what is today's economic value of the bequest? (Do not round Intermedlate calculations and round your final answer to 2 decimal places.) Present value $4
Marion's grandfather's will established a trust that will pay her $1,800 every three months for 12 years. The first payment will be made five years from now, when she turns 20. If money is worth 6.8% compounded quarterly, what is today's economic value of the bequest? (Do not round Intermedlate calculations and round your final answer to 2 decimal places.) Present value $4
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 27P
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Transcribed Image Text:Marion's grandfather's will established a trust that will pay her $1,800 every three months for 12 years. The first payment will be made
five years from now, when she turns 20. If money is worth 6.8% compounded quarterly, what is today's economic value of the
bequest? (Do not round Intermedlate calculations and round your final answer to 2 declmal places.)
Present value
$4
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