Question

An investment of $700$ is to be used to make payments of $10$ at the end of the first year, $20$

at the end of the second year, $30$ at the end of the third year, and so on$,$ every year for as

long as possible.

A smaller final payment is paid one year after the last regular payment.

The fund earns an effective rate of interest of $5\%.$

To the nearest dollar, the amount of the smaller final payment is equal to:

Possible Answers

$35$

$67$

$70$

$74$

$146$