Question: QUESTION 1 How much does Agnes need to donate to a trust each year for 7 years to have exactly enough in the trust to

QUESTION 1 How much does Agnes need to donate to a trust each year for 7 years to have exactly enough in the trust to be able to make scholarship payments of $10,330.00 per year forever? The first annual $10,330.00 scholarship payment will be made in 8 years from today. To fund the trust, Agnes plans to make equal annual savings donations to the trust for 7 years. Her first donation to the trust will be made in one year from today. The expected return for the trust is 18.58 percent per year.(Round the value to 2 decimal places)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
