You are 21 years old today.Your grandparents set up a trust fund that will pay you $25,000 per year for 20 years,starting on your 65th birthday to supplement your retirement.If the trust can earn 7.5% per year,how much will your grandparents need to put in the trust fund today (rounded to the nearest ten dollars) ?
A) $11,370
B) $22,310
C) $5,250
D) $17,450
Correct Answer:
Verified
Q67: You decide to borrow $250,000 to build
Q68: Your company has received a $50,000 loan
Q69: You borrow $25,000 to be repaid in
Q78: You inherit $300,000 from your parents and
Q80: You sell valuable artifacts from your household
Q87: A deferred annuity will pay you $500
Q92: If you put $200 in a savings
Q95: You are thinking of buying a craft
Q100: You bought a racehorse that has had
Q109: Your son will be attending an expensive
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents