Dave Decides to Donate $10,000 to UWO in Order to Set

question 54

Multiple Choice

Dave decides to donate $10,000 to UWO in order to set up scholarship fund paying $R every year forever.If the first scholarship is to be paid out immediately and if j₁ = 7%,what is R?

• A)$700.00
• B)$675.45
• C)$654.21
• D)$651.00

---

Definitions:

Heavier

Describing objects of greater weight or having more serious or profound impact.

Safer Cars

Vehicles designed with advanced safety features and technologies to protect passengers and reduce the likelihood of accidents.

Anti-Theft Device

A device or system designed to prevent unauthorized access to or theft of personal property or vehicles.

Auto-Insurance

A contract between a vehicle owner and an insurance company, where the insurer covers losses related to car accidents or theft.