Drew receives an inheritance that pays him $50,000 every three months for the next two years.Which of the following is closest to the present value (PV)of this inheritance if the interest rate is 8.5% (EAR)?
A)$354,223
B)$364,309
C)$365,322
D)$400,000

Question

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The Answer of Drew receives an inheritance that pays him $50,000 every three months for the next two years.Which of the following is closest to the present value (PV)of this inheritance if the interest rate is 8.5% (EAR)?
A)$354,223
B)$364,309
C)$365,322
D)$400,000

Drew Receives an Inheritance That Pays Him $50,000 Every Three