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You donate $83,333 to the local childrens hospital as an endowment to provide stuffed animals to children that have surgery. The endowment will pay out
You donate $83,333 to the local childrens hospital as an endowment to provide stuffed animals to children that have surgery. The endowment will pay out $2,500 for the stuffed animals at the end of this year. Next year, the endowment will pay out $2,600 for stuffed animals and in year three the endowment will pay $2,704. The endowment will continue to make annual payments that increase at this rate forever. What is the IRR of this stream of cash flows?
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