Question
A grateful alumnus, Mr. Ibe Indabucks, wishes to set up a fund for an annual cleaning and preening of the statue of general Determination. It
A grateful alumnus, Mr. Ibe Indabucks, wishes to set up a fund for an annual "cleaning and preening" of the statue of general Determination. It is estimated that this would cost about $2000 per year. If the fund is to cover this annual cost "in perpetuity," (that's forever) how much must Mr. Indabucks deposit in the fund now if:
a. the interest rate is 10%?
b. the interest rate is 1%?
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The Principals Guide To School Budgeting
Authors: Richard D. Sorenson, Lloyd M. Goldsmith
3rd Edition
1506389457, 978-1506389455
