The owner of a cemetery plans to offer a perpetual care service for grave sites. The owner

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The owner of a cemetery plans to offer a perpetual care service for grave sites. The owner estimates that it will cost $\$ 120$ per year to maintain a grave site. If the interest rate is 8 percent, what one-time fee should the owner charge for the perpetual care service?

a. $\$ 96$

b. $\$ 120$

c. $\$ 1,500$

d. $\$ 12,000$

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