Mrs. McTavish wants CO establish an annual $5000 scholarship in memory of her husband. The first scholarship
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Mrs. McTavish wants CO establish an annual $5000 scholarship in memory of her husband. The first scholarship is to be awarded two years from now. if the funds can earn 4% compounded annually, what amount must Mrs. McTavish pay now to sustain the scholarship in perpetuity?
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The amount required to fund the perpetuity is todays present v...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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