Abigail would like to endow a chair at MIT for $382,980 per year (i.e., this position...

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Abigail would like to endow a chair at MIT for $382,980 per year (i.e., this position will pay the annual salary of $382,980 forever.). At 5.2% interest, how much does Abigail need to donate? Abigail would like to endow a chair at MIT for $382,980 per year (i.e., this position will pay the annual salary of $382,980 forever.). At 5.2% interest, how much does Abigail need to donate?

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To calculate the present value of a perpetuity which is essentially the amount of money that ne... View the full answer