Lisa wants to start a charity for the Springfield elementary. The charity will pay $15,000 to the
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Lisa wants to start a charity for the Springfield elementary. The charity will pay $15,000 to the park 5 years from now. After that first payment, she wants the annual amount paid to the park to grow by 1% per year forever. Given that the interest rate is 5%, how much does Lisa Simpson need to deposit now to fund this project?
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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