The Pithybottoms want to make a donation to set up a scholarship trust fund at Hinose College.
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Question:
The Pithybottoms want to make a donation to set up a scholarship trust fund at Hinose College. The fund is to support payments of $5,000 at the end of every three months in perpetuity. If the fund earns 7.5% compounded quarterly, how much must they donate?
Select one:
a. $375,000
b. $66,667
c. $200,000
d. $666,667
e. $266,667
Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st edition
Authors: David M. Maloney, William H. Hoffman, Jr. , William A. Raabe, James C. Young
Posted Date: