Mathematics · Simple and Compound Interest
How much should be invested now (to the nearest $) to generate $48,000 annually in perpetuity when the interest rate is 4% per annum?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$960,000
- 2$1,400,000
- 3$1,000,000
- 4$1,200,000✓
Correct answer
$1,200,000
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