Question
Alexa, a retired librarian, would like to donate some money to her alma mater to endow a $7000 annual scholarship, The first scholarship will be
Alexa, a retired librarian, would like to donate some money to her alma mater to endow a $7000 annual scholarship, The first scholarship will be awarded in 5 years The university will manage the funds and expects to earn 5 percent per year. How much will Alexa have to donate so that the endowment fund never runs out?
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Get StartedRecommended Textbook for
Public Finance
Authors: Harvey Rosen, Ted Gayer
10th edition
9781259716874, 78021685, 1259716872, 978-0078021688
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