Multiple Choice
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
Correct Answer:
Verified
Q29: What is the present value of an
Q35: If you put $10 in a savings
Q46: You bought a racehorse that has had
Q55: A zero coupon bond pays no annual
Q64: You have been depositing money at the
Q65: A certificate of deposit that pays 9.8%
Q69: Cindy wants $2.5 million for her retirement
Q89: Your son will be attending an expensive
Q121: Tim invested $1,000 in a mutual fund
Q147: You are going to pay $100 into