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regarding: recent article on remainder estates
Could you please explain how $129220 for the correct offering price for the remainder interest? I keep comming up with a different number 240=n, 7/12=I, 500,000=fv, $301,078.58=pv?
I know im missing somthing basic. Does it have to do with a compounded return? Could you run through the calculation keys?
From Jack Miller:
Chris: Try N=20, I=7, PMT=0, FV = -$500,000 and PV= ?
I still get $129,209.50
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