1.) A donor would like to fund a scholarship that will pay the receipient $ 8500.00 at...
Fantastic news! We've Found the answer you've been seeking!
Question:
1.) A donor would like to fund a scholarship that will pay the receipient $8500.00 at the end of every year for 5years. If the school can get a 5.50% return on its investment, how much money does the donor need to give today to sufficiently fund the scholarship? - Do not use dollar signs or commas in your answer. Include two decimals in your answer.
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Posted Date: