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You are 21 years old today. Your grandparents set up a trust fund that will pay you $25,000 per year for 20 years, starting on

You are 21 years old today. Your grandparents set up a trust fund that will pay you $25,000 per year for 20 years, starting on your 65th birthday to supplement your retirement. If the trust can earn 7.5% per year, how much will your grandparents need to put in the trust fund today (rounded to the nearest $10)?.

Explain and solve step by step. Use formula or calculator not excel

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