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A local charity has just received a donation for $220,000 as well as the promise of another $100,000 donation in one year The donations win
A local charity has just received a donation for $220,000 as well as the promise of another $100,000 donation in one year The donations win be invested in an account earning 12.4% unta needed for the purchase of new equipment- The money will be withdrawn in two installments. The first withdrawal of $150,000 will be in 3 years and the second withdrawal (the remaining money) will be in 5 years. Calculate the amount of the second withdrawal
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