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Nina [5.8K]
3 years ago
15

What do banks do with most of their customers deposits

Business
1 answer:
MissTica3 years ago
7 0

Usually deposits go to making loans

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. You just inherited a trust that will pay you $100,000 per year in perpetuity. However, the first payment will not occur for ex
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Answer:

Present Value= $918,787.32

Explanation:

Giving the following information:

You just inherited a trust that will pay you $100,000 per year in perpetuity.

The first payment will not occur for exactly four more years.

Interest rate= 8%

First, we need to determine the value of the perpetual annuity in 4 years. Then, we calculate the value today.

Present value in four years:

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Now, using the following formula, we calculate the value today.

PV= FV/(1+i)^n

PV= 1,250,000/1.08^4

PV= $918,787.32

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