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1 points eBookPrintReferencesItem 7Item 7 1 points Your grandparents would like to establish a trust fund that will pay you and your heirs $180,000 per year forever with the first payment one year from today. If the trust fund earns an annual return of 3.5 percent, how much must your grandparents deposit today

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Answer:

$ 5,142,857.14

Explanation:

Calculation for how much must your grandparents deposit today

Using this formula

Amount that grandparents must deposit today = Regular amount / Rate of interest

Let plug in the formula Amount that grandparents must deposit today= 180,000 / 0.035

=$ 5,142,857.14

Therefore the Amount that grandparents must deposit today will be $5,142,857.14

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