Question: A college estimates that its new campus center will require $3000 for upkeep at the end of each year for the next 5 years and

A college estimates that its new campus center will require $3000 for upkeep at the end of each year for the next 5 years and $5000 at the end of each year thereafter, indefinitely. If money is worth 12% effective, how large an endowment is necessary for the future upkeep of the campus center? Ans; $34457.12

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