Your Great Aunt Left You an Inheritance in the Form

question 116

Multiple Choice

Your great aunt left you an inheritance in the form of a trust.The trust agreement states that you are to receive $2,400 on the first day of each year,starting immediately and continuing for 20 years.What is the value of this inheritance today if the applicable discount rate is 6.75 percent?

• A)$24,890.88
• B)$26,311.16
• C)$27,677.34
• D)$28,909.29
• E)$29,333.33

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