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Mrs. Smith wants to fund a growing perpetuity that will pay $1,000 per year to a local museum, starting next year. She wants the
Mrs. Smith wants to fund a growing perpetuity that will pay $1,000 per year to a local museum, starting next year. She wants the annual amount paid to grow by 4% per year. Given that the interest rate is 9%, how much does she need to fund this perpetuity? OA. $20,800 OB. $25,000 OC $11,111 OD. $20,000 seum, starting next year. She wants the annual amount paid to the museum to d this perpetuity?
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