An Alumna of Eastern Mediterranean University wanted to set up an endowment fund that would award scholarships to female engineering students totaling $ 150000 per year forever. The first scholarships are to be granted now and continue each year forever. How much must the alumna donate now? If the ROR is 10 % per year.

An Alumna of Eastern Mediterranean University wanted to set up an endowment fund that would award scholarships to female engineering students totaling $ 150000 per year forever. The first scholarships are to be granted now and continue each year forever. How much must the alumna donate now? If the ROR is 10 % per year.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 23E

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