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Spencer's parents create a trust fund that will start paying $ 1 5 0 , 0 0 0 per year forever starting 1 9 years

Spencer's parents create a trust fund that will start paying $

150, 000

per year forever starting

19

years from now.

(

Spencer

'

s future children will inherit it

.)

The trust fund wiill earn

7 %

per year. How much does the trust fund have to be worth today?

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