The owner of a cemetery plans to offer a perpetual care service for grave sites. The owner estimates that it will cost $125 per year to maintain a grave site. If the interest rate is 7.50%, what one-time fee should the owner charge for the perpetual care service? O a) $125 O b) $1,250 Oc) $1,667 O d) $94
The owner of a cemetery plans to offer a perpetual care service for grave sites. The owner estimates that it will cost $125 per year to maintain a grave site. If the interest rate is 7.50%, what one-time fee should the owner charge for the perpetual care service? O a) $125 O b) $1,250 Oc) $1,667 O d) $94
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Can some one please help me to answer the following question. PLEASE AND THANK YOU!!!!
![The owner of a cemetery plans to offer a perpetual care service for grave sites. The
owner estimates that it will cost $125 per year to maintain a grave site. If the interest
rate is 7.50%, what one-time fee should the owner charge for the perpetual care
service?
O a) $125
O b) $1,250
Oc) $1,667
O d) $94](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F322ab9b5-8b73-42ca-a79a-5c7ee3611144%2F8d0f340d-2a34-4509-975c-8eac83eea145%2Fq6szg2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The owner of a cemetery plans to offer a perpetual care service for grave sites. The
owner estimates that it will cost $125 per year to maintain a grave site. If the interest
rate is 7.50%, what one-time fee should the owner charge for the perpetual care
service?
O a) $125
O b) $1,250
Oc) $1,667
O d) $94
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