Question: Problem 1. (30 points) a) Jim and Linda both ISU alums want to set up a trust fund to help pay for an endowment chair

Problem 1. (30 points) a) Jim and Linda both ISU alums want to set up a trust fund to help pay for an endowment chair position in engineering and technology per year starting end of year (EOY) 11 perpetually. If $500,000 is invested in the trust today and if it earns a rate of return of 10% per year, what will be the equivalent annual endowment amount starting EOY 112

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