Multiple Choice
Ally wishes to leave a provision in her will that $7000 will be paid annually in perpetuity to a local charity. How much must she provide in her will for this perpetuity if the interest rate is 6%?
A) $58,334
B) $93,334
C) $116,667
D) $70,000
Correct Answer:
Verified
Correct Answer:
Verified
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