a charitable foundation has $500,000 invested in an account that earns 7%. the foundation has promised to begin making annual payments to beneficiaries in one year, and the first payment will be $25,000. the foundation has promised that future payments will grow at a constant rate forever. at what rate can the foundation afford to increase payments assuming that it makes no additional deposits into the account? 0%; it can't afford to increase payments forever without adding more money to the account. 1% 2% 3%
