You have $100,000 to donate to your college. You want to endow a perpetual scholarship that makes

Question:

You have $100,000 to donate to your college. You want to endow a perpetual scholarship that makes its first payment in 1 year. If the college’s discount rate is 4%, how large will the annual scholarship payment be?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals Of Corporate Finance

ISBN: 9780137852581

6th Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

Question Posted: