Imagine you are a philanthropist who would like to donate to a charity that provides shelter and
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- Imagine you are a philanthropist who would like to donate to a charity that provides shelter and assistance to homeless individuals. You would like to donate enough money to the charity to ensure that they can provide shelter for 13 homeless individuals every year in perpetuity. The cost of providing shelter per individual is $140 per day. If your investment fund pays a return of 2% per year, how much do you need to donate to the charity now so that they can provide shelter for 1000 individuals every day in perpetuity?
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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