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The University is given a gift of $ 600000 for the construction of a School of Management building. The University invests the gift into an
The University is given a gift of $600000 for the construction of a School of Management building. The University invests the gift into an account for future use. The University receives 8.00% on the money for 6 years then the rate drops to 7.20% . If the building is constructed 26 years after the gift was received, how much is in the fund at that time? $ Do not use dollar signs or commas in your answer. Include two decimals in your answer.
You may attempt this question 2 more times for credit. The University is given a gift of $600000 for the construction of a School of Management building. The University invests the gift into an account for future use. The University receives 8.00% on the money for 6 years then the rate drops to 7.20%. If the building is constructed 26 years after the gift was received, how much is in the fund at that time? $ Do not use dollar signs or commas in your answer. Include two decimals in yourStep by Step Solution
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