An alumni of Jamia Millia Islamia wanted to set up an endowment fund that would award scholarships to engineering students totaling $1,00,000 per year for ever. The first scholarships are to be granted now and continue each year for ever. How much should the alumnus donate now, if the endowment fund is expected to earn interest at a rate of 10% per year? Select one: a. cc= -$3300000 b. cc= -$110000 C. cc= -$1100000 d. cc= -$2200000

An alumni of Jamia Millia Islamia wanted to set up an endowment fund that would award scholarships to engineering students totaling $1,00,000 per year for ever. The first scholarships are to be granted now and continue each year for ever. How much should the alumnus donate now, if the endowment fund is expected to earn interest at a rate of 10% per year? Select one: a. cc= -$3300000 b. cc= -$110000 C. cc= -$1100000 d. cc= -$2200000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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