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A STATE PRIZE PAYS $1000 weekly for 15 years. The state earns 7% on its investments. How much does the state need to deposit now to cover the weekly payments?

A STATE PRIZE PAYS $1000 weekly for 15 years. The state earns 7% on its investments. How much does the state need to deposit now to cover the weekly payments?
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A STATE PRIZE PAYS $1000 weekly for 15 years.

The state earns 7% on its investments. How much does the state need to deposit now to cover the weekly payments?

asked
User Adam Gibson
by
7.7k points

2 Answers

7 votes

Answer:

$725,400 Should be the answer.

answered
User Harrolee
by
8.5k points
1 vote

Answer:

b

Explanation:

answered
User Paul Young
by
8.1k points
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