Regal Medical Center is starting an endowment fund to pay for the expenses of a medical research
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Regal Medical Center is starting an endowment fund to pay for the expenses of a medical research program. The expenses are $5 million per year, and the program is expected to last ten years. Assuming payments are made at the end of each year and the interest rate is 9 percent per year, what should be the initial size of the endowment?
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Related Book For
Financial Management Of Health Care Organizations
ISBN: 9781118466568
4th Edition
Authors: William N. Zelman, Michael J. McCue, Noah D. Glick, Marci S. Thomas
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