Solve the problem.The Finance Club would like to endow an annual prize of $150 to the student who shows the most promise as a future stockbroker. The club is confident that it can invest indefinitely at an interest rate of at least 5% a year. How much does the club need to endow its prize?
A. $3000
B. $300
C. $3150
D. $158
Answer: A
Mathematics
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Mathematics