Question
You want to endow scholarship that will pay $15,000 per year forever, starting one year from now. If the school endowment discount rate is 8%.
You want to endow scholarship that will pay $15,000 per year forever, starting one year from now. If the school endowment discount rate is 8%. What amount must you donate to endow the scholarship?
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Financial Management For Decision Making
Authors: Harold Jr. Bierman, Seymour Smidt
1st Edition
1587982129, 9781587982125
