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Allisa has established a scholarship at MIT, for graduate student support. She will make deposits into an endowment that pays 10% per year based on
Allisa has established a scholarship at MIT, for graduate student support. She will make deposits into an endowment that pays 10% per year based on the following schedule (in thousands). Year 0 1 2 3 4 5 6 Deposit Amount ($) $100 90 80 70 60 50 40 If the first assistantship is to be awarded one year after the first deposit is made and thereafter the award will be given indefinitely, what is the scholarship amount? A) $39.33 B) $45.68 C) $68.26 D) $92.58 E) $107.52
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