document.write( "Question 1019737: Hi,
\n" ); document.write( "I was having trouble with this particular finance question and was just wondering if I had solved it correctly. \r
\n" ); document.write( "\n" ); document.write( "Ally wishes to leave a provision in her will that $7000 will be paid annually in perpetuity to a local charity. How much must she provide in her will for this perpetuity if the interest rate is 6%?\r
\n" ); document.write( "\n" ); document.write( "PV= C/r
\n" ); document.write( "PV = $7000/.06
\n" ); document.write( "PV= $116,666.67\r
\n" ); document.write( "\n" ); document.write( "Did I do it correctly?\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Thanks.\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #635679 by Alan3354(69443) $\"\"$ $\"About$

You can put this solution on YOUR website!
Ally wishes to leave a provision in her will that $7000 will be paid annually in perpetuity to a local charity. How much must she provide in her will for this perpetuity if the interest rate is 6%?\r
\n" ); document.write( "\n" ); document.write( "PV= C/r
\n" ); document.write( "PV = $7000/.06
\n" ); document.write( "PV= $116,666.67
\n" ); document.write( "==================
\n" ); document.write( "If it's simple interest, you're correct. \n" ); document.write( "

\n" );