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Summer Brook Hospital is planning to create an endowment, which will pay $500,000per year forever. The first payment will not be received until four years
Summer Brook Hospital is planning to create an endowment, which will pay $500,000per year forever. The first payment will not be received until four years from today.
How much money needs to be set aside today if the effective annual rate of return is8%?
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Principles of Managerial Finance
Authors: Chad J. Zutter, Scott B. Smart
15th edition
