Your grandparents would like to establish a trust fund that would pay annual payments to you and your heirs of $100,000 a year forever.How much do your parents need to deposit into this trust fund today to achieve their goal if the fund can earn 6 percent interest?
A) $678,342.13
B) $700,000.00
C) $1,413,435.76
D) $1,620,975.32
E) $1,666,666.67
Correct Answer:
Verified
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