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A rich relative has bequeathed you a growing perpetuity. The first payment will occur in one year and will be $ 2,000. Each year after​ that, you will receive a payment on the anniversary of the last payment that is 3 % larger than the last payment. This pattern of payments will go on forever. If the interest rate is 14 % per​ year,what is​ today's value of the​ bequest?
Group of answer choices
18,182
18,727
18,927
18,736

Q&A Education