A fund was established to provide scholarship payments of $11,500 at the beginning of every six months.
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A fund was established to provide scholarship payments of $11,500 at the beginning of every six months. If money can earn 4.55% compounded monthly instead of 4.55% compounded semi-annually, how much less would be needed to ensure these payments in perpetuity?
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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