Seaside Medical Center is starting an endowment fund to pay for the expenses of a community outreach

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Seaside Medical Center is starting an endowment fund to pay for the expenses of a community outreach pediatric program. The expenses are

$500,000 per year and the program is expected to last for five years.

Assuming payments are made at the end of each year and the interest rate is 7 percent per year, what should be the size of the initial endowment?

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Related Book For book-img-for-question

Financial Management Of Health Care Organizations

ISBN: 9780631230984

2nd Edition

Authors: William N. Zelman, Michael J. McCue, Alan R. Millikan, Noah D. Glick

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Question Posted: Jun 04, 2024 01:13 AM

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Seaside Medical Center is starting an endowment fund to pay for the expenses of a community outreach

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Financial Management Of Health Care Organizations

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