Question
1.) A donor would like to fund a scholarship that will pay the receipient $ 8500.00 at the end of every year for 5 years.
1.) A donor would like to fund a scholarship that will pay the receipient $8500.00 at the end of every year for 5years. If the school can get a 5.50% return on its investment, how much money does the donor need to give today to sufficiently fund the scholarship? - Do not use dollar signs or commas in your answer. Include two decimals in your answer.
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
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