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Clarissa wants to fund a growing perpetuity that will pay $11,000 per year to a local museum, starting next year. She wants the annual amount
Clarissa wants to fund a growing perpetuity that will pay $11,000 per year to a local museum, starting next year. She wants the annual amount paid to the museum to grow by 6% per year. Given that the interest rate is 9%, how much does she need to fund this perpetuity? A. $440,000.00 B. $183,333.34 C. $366,666.67 D. $293,333.34
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