Question
Suppose you want to fund an endowed chair for an Olin professor. You need to set aside enough money today to generate $100,000 a year
Suppose you want to fund an endowed chair for an Olin professor. You need to set aside enough money today to generate $100,000 a year into perpetuity. If the expected rate of return on your investment is 6%, how much money do you need to invest today?
| A. $1.0 million | ||
| B. $1.25 million | ||
| C. $1.50 million | ||
| D. $1.75 million | ||
| E. $2.0 million |
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Successful Fundraising For Arts And Cultural Organizations
Authors: Carolyn S. Friedman, Karen B. Hopkins
2nd Edition
1573560294, 978-1573560290
