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Question 18 Question text Lodh has funded a scholarship to his early childhood school for $15,500 per year in perpetuity. If the endowment fund can
Question 18
Question text
Lodh has funded a scholarship to his early childhood school for $15,500 per year in perpetuity. If the endowment fund can earn 6.75% per year, what is the value of endowment (current) payment Lodh must pay to launch the scholarship? (Round to the nearest dollar.)
A.
$214,375
B.
$124,900
C.
$229,630
D.
$212,150
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