Best Benefactors, Inc. would like to donate $5 million to be used for annual leadership training...
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Best Benefactors, Inc. would like to donate $5 million to be used for annual leadership training programs for college seniors. If the interest rate applied to the account in which the money will be deposit is 5% p.y.c.y. and the inflation rate is 3.5% p.y.. what is the maximum amount of money that can be given annually in perpetuity for the leadership training? Best Benefactors, Inc. would like to donate $5 million to be used for annual leadership training programs for college seniors. If the interest rate applied to the account in which the money will be deposit is 5% p.y.c.y. and the inflation rate is 3.5% p.y.. what is the maximum amount of money that can be given annually in perpetuity for the leadership training?
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Present value of Donation 5000000 Interest rate 5 per y... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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