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A college plans to set up an endowment fund that will provide a scholarship of $4,000 at the end of every quarter, in perpetuity.
A college plans to set up an endowment fund that will provide a scholarship of $4,000 at the end of every quarter, in perpetuity. How much should the college invest in the fund, if the fund earns 5.50% compounded quarterly? Round to the nearest cent
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Fundamentals of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
8th Edition
978-0073530628, 978-0077861629
