A donor (you) wishes to start an endowment that will provide scholarship money of $40,000 per year

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A donor (you) wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. If the university earns 10% per year on the endowment, the amount you must donate now is closest to:

(a) $–225,470

(b) $–248,360

(d) $–293,820

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:42 AM

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A donor (you) wishes to start an endowment that will provide scholarship money of $40,000 per year

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As donor wishes to provide scholarship of 40000 every ...View the full answer

Engineering economy

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