Martin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That beq
Posted: Sun Jul 03, 2022 12:54 pm
Martin wants to provide money in his will for an annual bequestto whichever of his living relatives is oldest. That bequest willprovide $7,000 in the first year, and will grow by 5% per year,forever. If the interest rate is 11%, how much must Martin provideto fund this bequest?