How much must your grandparents deposit today, Financial Management

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How much must your grandparents deposit today

Problem

Your grandparents would like to establish a trust fund that will pay you and your heirs $190,000 per year forever with the first payment one year from today. If the trust fund earns an annual return of 3.7 percent, how much must your grandparents deposit today?

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Financial Management: How much must your grandparents deposit today

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