A Rich Donor Gives a Hospital $100,000 One Year from Today.Each

Multiple Choice

A rich donor gives a hospital $100,000 one year from today.Each year after that,the hospital will receive a payment 5% larger than the previous payment,with the last payment occurring in ten years' time.What is the present value (PV) of this donation,given that the interest rate is 9%?

A) $467,922.22
B) $585,987.27
C) $772,173.49
D) $779,843.27
E) $1,120,727.79