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An endowment fund is set up with a donation of $170,000. If it earns 5.8% compounded monthly, for how long will it sustain end-of- month
An endowment fund is set up with a donation of $170,000. If it earns 5.8% compounded monthly, for how long will it sustain end-of- month withdrawals of $1,700? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Endowment is for year(s) and month(s). A perpetuity is to pay $19,000 at the end of every six months. How much less money is required to fund the perpetuity if the money can be invested to earn 5% compounded semiannually instead of 4% compounded semiannually? (Do not round intermediate calculations.) less money is required
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