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Answer the following. a. b. A generous benefactor to the local ballet plans to make a one-time endowment which would provide the ballet with $150,000
Answer the following.
a.
b.
A generous benefactor to the local ballet plans to make a one-time endowment which would provide the ballet with $150,000 per year into perpetuity. The rate of interest is expected to be 5 percent for all future time periods. How large must the endowment be? O A. $1,428,571 O B. $300,000 O C. $3,000,000 O D. $750,000Step by Step Solution
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