Question
On January 1, 2020 a university received a grant of $500,000 that is invested at j 4 = 8%. The grant is to be used
On January 1, 2020 a university received a grant of $500,000 that is invested at j4 = 8%. The grant is to be used to pay out semi-annual scholarships of $Xforever.
What is the size of each scholarship if the first one is to be awarded on July 1, 2022?
- A. $20,200.00
- B. $23,667.50
- C. $22,748.48
- D. $22,841.05
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Succeeding in Business with Microsoft Excel 2013 A Problem Solving Approach
Authors: Debra Gross, Frank Akaiwa, Karleen Nordquist
1st edition
978-1285099149, 9781285963969, 1285099141, 1285963962, 978-1285715346
