The Gates family recently established a trust fund that will provide annual scholarships of $12,000 indefinitely. These annual scholarships can best be described by which one of the following terms?a) Ordinary annuity
b)Annuity due
c) Amortized payment
d) Perpetuity
e)Continuation

The correct answer is letter "D": Perpetuity.

Explanation:

Perpetuity means infinite. Perpetuity in Finance is a flow of money that will be earned on a regular basis, without a defined end date. Calculating the present value of an annuity is based on the concept of perpetuity. Also, the concept of perpetuity is a basic concept used for securities as well as for real estate valuation in the dividend discount pricing model.

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