A Rich Donor Gives a Hospital $100,000 One Year from Today.Each

question 78

Multiple Choice

A rich donor gives a hospital $100,000 one year from today.Each year after that,the hospital will receive a payment 5% larger than the previous payment,with the last payment occurring in ten years' time.What is the present value (PV) of this donation,given that the interest rate is 9%?

• A)$467,922.22
• B)$585,987.27
• C)$772,173.49
• D)$779,843.27
• E)$1,120,727.79

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