Toni decides to establish an endowment fund to benefit one Bcum Project Finance student at UNY each
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Question:
Toni decides to establish an endowment fund to benefit one Bcum Project Finance student at UNY each year. She would like the fund to pay a qualified student each year a one-time grant of US$1,200. However, this annual on-off grant to each student is growing at the rate of 4% to account for inflation. She estimates that the fund could earn an interest rate of 7% per annum. How much should Tony deposit in the fund today?
Question No. 7: What is the future value of $12,000 for 4.5 years continuously compounding at 10.5%?
Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
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