A rich alumni has created a trust for his university. It will pay the university...
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Accounting
A rich alumni has created a trust for his university. It will pay the university USD15,000 three years from today. In addition, each year after that, the trust will pay an amount (on the anniversary of the last payment) that is 1.90% larger than the last payment for ever. If the interest rate is 4.98%, what is the value of the gift from the alumni today? Give your answer rounded to the nearest Dollar
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