Martin Wants to Provide Money in His Will for an Annual

question 34

Multiple Choice

Martin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest.That bequest will provide $1000 in the first year,and will grow by 7% per year,forever.If the interest rate is 11%,how much must Martin provide to fund this bequest?

• A)$9090.90
• B)$14,285.71
• C)$25,000.00
• D)$36,687.45

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Definitions:

Abbreviation

The act or result of shortening a word or group of words to form a shorter word or phrase, typically used to save space or avoid repetition.

Lymphatic System

A network of vessels and nodes throughout the body that is involved in transporting lymph, a fluid containing white blood cells and waste products, as well as in immune system functions.

Cancerous Tumor

An abnormal growth of cells that can invade and destroy surrounding tissue and potentially spread to other parts of the body.

Reticulosarcoma

An outdated term for a type of non-Hodgkin lymphoma that affects cells in the immune system, now more specifically classified.