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How much would you need to gift to the university today to establish a scholarship fund that pays out $25000 in scholarships in one year
How much would you need to gift to the university today to establish a scholarship fund that pays out $25000 in scholarships in one year and grows the scholarship payout by 3% per year forever? Assume that the university endowment earns 6% per year on its investments. Your
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Principles Of Financial Management
Authors: Haim Levy, Marshall Sarnat
1st Edition
0137097751, 978-0137097753
