Clarissa wants to fund a growing perpetuity that will pay $5000 per year to a local museum,starting next year.She wants the annual amount paid to the museum to grow by 5% per year.Given that the interest rate is 8%,how much does she need to fund this perpetuity?

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The Answer of Clarissa wants to fund a growing perpetuity that will pay $5000 per year to a local museum,starting next year.She wants the annual amount paid to the museum to grow by 5% per year.Given that the interest rate is 8%,how much does she need to fund this perpetuity?

Clarissa Wants to Fund a Growing Perpetuity That Will Pay