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How much does Vicki need to donate to a trust each year for 5 years to have exactly enough in the trust to be able
How much does Vicki need to donate to a trust each year for 5 years to have exactly enough in the trust to be able to make scholarship payments of $9,810.00 per year forever? The first annual $9,810.00 scholarship payment will be made in 6 years from today. To fund the trust, Vicki plans to make equal annual savings donations to the trust for 5 years. Her first donation to the trust will be made in one year from today. The expected return for the trust is 17.77 percent per year.(Round the value to 2 decimal places)
How much does Vicki need to donate to a trust each year for 5 years to have exactly enough in the trust to be able to make scholarship payments of $9,810.00 per year forever? The first annual $9,810.00 scholarship payment will be made in 6 years from today. To fund the trust, Vicki plans to make equal annual savings donations to the trust for 5 years. Her first donation to the trust will be made in one year from today. The expected return for the trust is 17.77 percent per year.(Round the value to 2 decimal places) Selected Answer: [None Given] Correct Answer: 7,751.58 Answer range +/- 15.50316 (7736.07684 - 7767.08316)
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