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A university endowment fund has received a donation with the condition that the fund must pay out $ 1 0 , 0 0 0 yearly
A university endowment fund has received a donation with the condition that the fund must pay out $ yearly for an indefinite scholarship. This is an example of:
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Perpetuity
Annuity
Trust fund
Mutual fund
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Introduction to Finance Markets Investments and Financial Management
Authors: Melicher Ronald, Norton Edgar
15th edition
