Sam is told by his great Aunt Sadie that he will be paid $1,000 every 6 months from an inheritance for 10 years. But before that happens, Sadie wants him to determine the amount of the inheritance she must provide in order to meet this anticipated cash flow. If he does not determine this correctly Sadie will not include him in her will. Assuming a rate of 10%, what is this amount? YOU MUST SHOW YOUR WORK AND SET UP PROBLEM(s) You MUST include: 1. Identify the type of problem. 2. Write out the formula identifying the rate and term in the factor. 3. Solve with a complete formula.

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