Question
The local community center has been notified that it is the beneficiary of an endowment. The community center can accept cash today in the amount
The local community center has been notified that it is the beneficiary of an endowment.
The community center can accept cash today in the amount of $550,000 or receive $875,000 in
5 years. The community center expects to be able to invest the money at a 5% interest rate if it
were to take the money now. Should it take the money now or wait?
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Microeconomics and Behavior
Authors: Robert Frank
9th edition
9780077723750, 78021693, 77723759, 978-0078021695
