Question
A local charity receives annual income of $28,500 from a trust fund established by a generous donor several years ago. The trust fund earns a
A local charity receives annual income of $28,500 from a trust fund established by a generous donor several
years ago. The trust fund earns a fixed annual return of 5.5 percent. How much did the donor contribute to establish this fund?a. $486,919.29b. $500,000.00c. $518,181.82d. $525,000.00
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
