Question
You want to fund an endowment that will spit off $500,000 next year, and want that to grow at 2% a year forever. How much
You want to fund an endowment that will spit off $500,000 next year, and want that to grow at 2% a year forever. How much do you need to place in the endowment if you expect to earn 7% per year?
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
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