Your aunt has decided to give most of her wealth to charity and to retain for herself only enough money to provide for her living. She feels that $6 000 per month will provide for her needs. She will establish a trust fund at a bank that will pay 6 percent interest, compounded monthly. She has also arranged that upon her death, the balance in the account is to be paid to you. If she opens the trust fund and deposits enough money to withdraw her $6 000 a month forever, how much will you receive when your aunt dies?
What will be an ideal response?
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