Question
A college received a contribution to its endowment fund of $2 million. They can never touch the principal, but they can use the earnings. At
A college received a contribution to its endowment fund of $2 million. They can never touch the principal, but they can use the earnings. At an assumed interest rate of 9.5 percent, how much can the college earn to help its operations each year?
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Multinational Financial Management
Authors: Alan C. Shapiro
7th Edition
0471395307, 9780471395300
