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Find what is the current economic value of an inheritance

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Question 1: What is the current economic value of an inheritance that will pay $3400 to the beneficiary at the beginning of every three months for 20 years starting when the beneficiary reaches 21 years of age, 4 1/4 years from now? Assume that money can earn 6.9% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132605514

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