Your Aunt Terry has promised to pay you $100 in year 1, $200 in year 2, $300 in year 3, $400 in year 4 and $500 in year 5. Assume that the interest rate is 5% per annum, calculate the present value of Aunt Terry’s promised series of payments over the next 5 years.

Your Aunt Terry has promised to pay you $100 in year 1, $200 in year 2, $300 in year 3, $400 in year 4 and $500 in year 5. Assume that the interest rate is 5% per annum, calculate the present value of Aunt Terry’s promised series of payments over the next 5 years.

Your Aunt Terry has promised to pay you $100 in year 1, $200 in year 2, $300 in year 3, $400 in year 4 and $500 in year 5. Assume that the interest rate is 5% per annum, calculate the present value of Aunt Terry’s promised series of payments over the next 5 years.