Julia sets up a charitable trust of $10,000,000. Interest from the trust is paid to the...
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Julia sets up a charitable trust of $10,000,000. Interest from the trust is paid to the United Way for the first 15 years, to Feeding America for the second 15 years and to Saint Jude's Children's Hospital thereafter. Find the present value of the portion going to Saint Jude's Children's Hospital, if it is assumed that estate will earn an 8% annual effective rate of interest. Julia sets up a charitable trust of $10,000,000. Interest from the trust is paid to the United Way for the first 15 years, to Feeding America for the second 15 years and to Saint Jude's Children's Hospital thereafter. Find the present value of the portion going to Saint Jude's Children's Hospital, if it is assumed that estate will earn an 8% annual effective rate of interest.
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ANSWER The interest going to Saint Judes Childrens Hospital 1... View the full answer
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Posted Date:
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