You plan to donate money to the Business School at Clark Atlanta University every year starting...
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You plan to donate money to the Business School at Clark Atlanta University every year starting 12 years from now and lasting forever. Your plan is to donate $100,000 initially and increase the annual donation by 5% each year to account for inflation. To fund this endowment, you intend to deposit a lump sum with your bank today. If you can earn 8% per vear on vour initial deposit, how much must you deposit today to fund this donationi You plan to donate money to the Business School at Clark Atlanta University every year starting 12 years from now and lasting forever. Your plan is to donate $100,000 initially and increase the annual donation by 5% each year to account for inflation. To fund this endowment, you intend to deposit a lump sum with your bank today. If you can earn 8% per vear on vour initial deposit, how much must you deposit today to fund this donationi
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Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
Posted Date:
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