Question
Your father wishes to start an endowment that will provide scholarship money of $70,000 per year beginning in year 5 and continuing indefinitely. If the
Your father wishes to start an endowment that will provide scholarship money of $70,000 per year beginning in year 5 and continuing indefinitely. If the university earns 10% per year on the endowment, the amount your father must donate now is closest to
| A. | $-478100
| |
| B. | $-488100
| |
| C. | $-477100
| |
| D. | $-478000
|
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Introduction To Finance
Authors: Lawrence J Gitman, Jeff Madura
1st Edition
0201635372, 9780201635379
