You are 21 years old today. Your grandparents set up a trust fund that
You are 21 years old today. Your grandparents set up a trust fund that will pay you $25,000 per
year for 20 years, starting on your 65th birthday to supplement your retirement.
If the trust can
earn 7.5% per year, how much will your grandparents need to put in the trust fund today (rounded
to the nearest ten dollars)?
A) $22,310 B) $11,370 C) $17,450 D) $5,250
ANSWER
B
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