You want to establish an endowment fund that will pay a Lerner College professor $135,000 per...
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You want to establish an endowment fund that will pay a Lerner College professor $135,000 per year forever starting in 12 years from today. The fund will earn an interest rate of 2.6%. How much must you donate today? If you have a student loan with an APR of 9% that has monthly payments, what is the EAR that you are paying? You want to establish an endowment fund that will pay a Lerner College professor $135,000 per year forever starting in 12 years from today. The fund will earn an interest rate of 2.6%. How much must you donate today? If you have a student loan with an APR of 9% that has monthly payments, what is the EAR that you are paying?
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To determine how much you need to donate today for the endowment fund you can use the concept of pre... View the full answer
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Posted Date:
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