Chapter 6.4, Problem 5CP

BuyFind*arrow_forward*

10th Edition

Ron Larson

ISBN: 9781305860919

Textbook Problem

1 views

Checkpoint 5

In Example 5, do you have enough money to start a scholarship fund that pays $10,000 annually? Explain why or why not.

To determine

The scholarship fund is enough or not that pays annually

Explanation

**Given Information:**

The total fund available is

Consider the provided data.

The expression for the present value is:

Where *P* is size of annual payment, *r* is annual interest rate.

Interest rate in fraction form is:

Substitute

Sect-6.1 P-1CPSect-6.1 P-2CPSect-6.1 P-3CPSect-6.1 P-4CPSect-6.1 P-5CPSect-6.1 P-6CPSect-6.1 P-7CPSect-6.1 P-1SWUSect-6.1 P-2SWUSect-6.1 P-3SWU

Sect-6.1 P-4SWUSect-6.1 P-5SWUSect-6.1 P-6SWUSect-6.1 P-7SWUSect-6.1 P-8SWUSect-6.1 P-9SWUSect-6.1 P-10SWUSect-6.1 P-1ESect-6.1 P-2ESect-6.1 P-3ESect-6.1 P-4ESect-6.1 P-5ESect-6.1 P-6ESect-6.1 P-7ESect-6.1 P-8ESect-6.1 P-9ESect-6.1 P-10ESect-6.1 P-11ESect-6.1 P-12ESect-6.1 P-13ESect-6.1 P-14ESect-6.1 P-15ESect-6.1 P-16ESect-6.1 P-17ESect-6.1 P-18ESect-6.1 P-19ESect-6.1 P-20ESect-6.1 P-21ESect-6.1 P-22ESect-6.1 P-23ESect-6.1 P-24ESect-6.1 P-25ESect-6.1 P-26ESect-6.1 P-27ESect-6.1 P-28ESect-6.1 P-29ESect-6.1 P-30ESect-6.1 P-31ESect-6.1 P-32ESect-6.1 P-33ESect-6.1 P-34ESect-6.1 P-35ESect-6.1 P-36ESect-6.1 P-37ESect-6.1 P-38ESect-6.1 P-39ESect-6.1 P-40ESect-6.1 P-41ESect-6.1 P-42ESect-6.1 P-43ESect-6.1 P-44ESect-6.1 P-45ESect-6.1 P-46ESect-6.1 P-47ESect-6.1 P-48ESect-6.1 P-49ESect-6.1 P-50ESect-6.1 P-51ESect-6.1 P-52ESect-6.1 P-53ESect-6.1 P-54ESect-6.1 P-55ESect-6.1 P-56ESect-6.1 P-57ESect-6.1 P-58ESect-6.1 P-59ESect-6.1 P-60ESect-6.1 P-61ESect-6.1 P-62ESect-6.1 P-63ESect-6.1 P-64ESect-6.1 P-65ESect-6.1 P-66ESect-6.1 P-67ESect-6.1 P-68ESect-6.1 P-69ESect-6.1 P-70ESect-6.1 P-71ESect-6.1 P-72ESect-6.1 P-73ESect-6.1 P-74ESect-6.1 P-75ESect-6.1 P-76ESect-6.1 P-77ESect-6.1 P-78ESect-6.1 P-79ESect-6.1 P-80ESect-6.1 P-81ESect-6.1 P-82ESect-6.2 P-1CPSect-6.2 P-2CPSect-6.2 P-3CPSect-6.2 P-4CPSect-6.2 P-5CPSect-6.2 P-6CPSect-6.2 P-1SWUSect-6.2 P-2SWUSect-6.2 P-3SWUSect-6.2 P-4SWUSect-6.2 P-5SWUSect-6.2 P-6SWUSect-6.2 P-1ESect-6.2 P-2ESect-6.2 P-3ESect-6.2 P-4ESect-6.2 P-5ESect-6.2 P-6ESect-6.2 P-7ESect-6.2 P-8ESect-6.2 P-9ESect-6.2 P-10ESect-6.2 P-11ESect-6.2 P-12ESect-6.2 P-13ESect-6.2 P-14ESect-6.2 P-15ESect-6.2 P-16ESect-6.2 P-17ESect-6.2 P-18ESect-6.2 P-19ESect-6.2 P-20ESect-6.2 P-21ESect-6.2 P-22ESect-6.2 P-23ESect-6.2 P-24ESect-6.2 P-25ESect-6.2 P-26ESect-6.2 P-27ESect-6.2 P-28ESect-6.2 P-29ESect-6.2 P-30ESect-6.2 P-31ESect-6.2 P-32ESect-6.2 P-33ESect-6.2 P-34ESect-6.2 P-35ESect-6.2 P-36ESect-6.2 P-37ESect-6.2 P-38ESect-6.2 P-39ESect-6.2 P-40ESect-6.2 P-41ESect-6.2 P-42ESect-6.2 P-43ESect-6.2 P-44ESect-6.2 P-45ESect-6.2 P-46ESect-6.2 P-47ESect-6.2 P-48ESect-6.2 P-49ESect-6.2 P-50ESect-6.2 P-51ESect-6.2 P-52ESect-6.2 P-53ESect-6.2 P-54ESect-6.2 P-55ESect-6.2 P-56ESect-6.2 P-57ESect-6.2 P-58ESect-6.2 P-59ESect-6.2 P-60ESect-6.2 P-61ESect-6.2 P-1QYSect-6.2 P-2QYSect-6.2 P-3QYSect-6.2 P-4QYSect-6.2 P-5QYSect-6.2 P-6QYSect-6.2 P-7QYSect-6.2 P-8QYSect-6.2 P-9QYSect-6.2 P-10QYSect-6.2 P-11QYSect-6.2 P-12QYSect-6.2 P-13QYSect-6.2 P-14QYSect-6.2 P-15QYSect-6.2 P-16QYSect-6.2 P-17QYSect-6.2 P-18QYSect-6.2 P-19QYSect-6.2 P-20QYSect-6.2 P-21QYSect-6.3 P-1CPSect-6.3 P-2CPSect-6.3 P-3CPSect-6.3 P-1SWUSect-6.3 P-2SWUSect-6.3 P-3SWUSect-6.3 P-4SWUSect-6.3 P-5SWUSect-6.3 P-6SWUSect-6.3 P-7SWUSect-6.3 P-8SWUSect-6.3 P-9SWUSect-6.3 P-10SWUSect-6.3 P-1ESect-6.3 P-2ESect-6.3 P-3ESect-6.3 P-4ESect-6.3 P-5ESect-6.3 P-6ESect-6.3 P-7ESect-6.3 P-8ESect-6.3 P-9ESect-6.3 P-10ESect-6.3 P-11ESect-6.3 P-12ESect-6.3 P-13ESect-6.3 P-14ESect-6.3 P-15ESect-6.3 P-16ESect-6.3 P-17ESect-6.3 P-18ESect-6.3 P-19ESect-6.3 P-20ESect-6.3 P-31ESect-6.3 P-32ESect-6.3 P-33ESect-6.3 P-34ESect-6.3 P-35ESect-6.3 P-36ESect-6.3 P-37ESect-6.3 P-38ESect-6.3 P-39ESect-6.3 P-40ESect-6.3 P-43ESect-6.3 P-44ESect-6.3 P-45ESect-6.3 P-46ESect-6.3 P-47ESect-6.3 P-48ESect-6.4 P-1CPSect-6.4 P-2CPSect-6.4 P-3CPSect-6.4 P-4CPSect-6.4 P-5CPSect-6.4 P-1SWUSect-6.4 P-2SWUSect-6.4 P-3SWUSect-6.4 P-4SWUSect-6.4 P-5SWUSect-6.4 P-6SWUSect-6.4 P-7SWUSect-6.4 P-8SWUSect-6.4 P-9SWUSect-6.4 P-10SWUSect-6.4 P-1ESect-6.4 P-2ESect-6.4 P-3ESect-6.4 P-4ESect-6.4 P-5ESect-6.4 P-6ESect-6.4 P-7ESect-6.4 P-8ESect-6.4 P-9ESect-6.4 P-10ESect-6.4 P-11ESect-6.4 P-12ESect-6.4 P-13ESect-6.4 P-14ESect-6.4 P-15ESect-6.4 P-16ESect-6.4 P-17ESect-6.4 P-18ESect-6.4 P-19ESect-6.4 P-20ESect-6.4 P-21ESect-6.4 P-22ESect-6.4 P-23ESect-6.4 P-24ESect-6.4 P-25ESect-6.4 P-26ESect-6.4 P-27ESect-6.4 P-28ESect-6.4 P-29ESect-6.4 P-30ESect-6.4 P-31ESect-6.4 P-32ESect-6.4 P-33ESect-6.4 P-34ESect-6.4 P-35ESect-6.4 P-36ESect-6.4 P-37ESect-6.4 P-38ESect-6.4 P-39ESect-6.4 P-40ESect-6.4 P-41ESect-6.4 P-42ECh-6 P-1RECh-6 P-2RECh-6 P-3RECh-6 P-4RECh-6 P-5RECh-6 P-6RECh-6 P-7RECh-6 P-8RECh-6 P-9RECh-6 P-10RECh-6 P-11RECh-6 P-12RECh-6 P-13RECh-6 P-14RECh-6 P-15RECh-6 P-16RECh-6 P-17RECh-6 P-18RECh-6 P-19RECh-6 P-20RECh-6 P-21RECh-6 P-22RECh-6 P-23RECh-6 P-24RECh-6 P-25RECh-6 P-26RECh-6 P-27RECh-6 P-28RECh-6 P-29RECh-6 P-30RECh-6 P-31RECh-6 P-32RECh-6 P-33RECh-6 P-34RECh-6 P-35RECh-6 P-36RECh-6 P-37RECh-6 P-38RECh-6 P-39RECh-6 P-40RECh-6 P-41RECh-6 P-42RECh-6 P-43RECh-6 P-44RECh-6 P-45RECh-6 P-46RECh-6 P-47RECh-6 P-48RECh-6 P-49RECh-6 P-50RECh-6 P-51RECh-6 P-52RECh-6 P-53RECh-6 P-54RECh-6 P-55RECh-6 P-56RECh-6 P-57RECh-6 P-58RECh-6 P-59RECh-6 P-60RECh-6 P-61RECh-6 P-62RECh-6 P-63RECh-6 P-64RECh-6 P-1TYSCh-6 P-2TYSCh-6 P-3TYSCh-6 P-4TYSCh-6 P-5TYSCh-6 P-6TYSCh-6 P-7TYSCh-6 P-8TYSCh-6 P-9TYSCh-6 P-10TYSCh-6 P-11TYSCh-6 P-12TYSCh-6 P-13TYSCh-6 P-14TYSCh-6 P-15TYSCh-6 P-16TYSCh-6 P-17TYSCh-6 P-18TYS

Applied Calculus

Finite Mathematics and Applied Calculus (MindTap Course List)

Single Variable Calculus: Early Transcendentals, Volume I

Multivariable Calculus

Calculus: Early Transcendentals

Precalculus: Mathematics for Calculus (Standalone Book)

Calculus: Early Transcendental Functions

Essentials Of Statistics

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

Calculus (MindTap Course List)

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Single Variable Calculus

Statistics for The Behavioral Sciences (MindTap Course List)

Finite Mathematics

Understanding Basic Statistics

Probability and Statistics for Engineering and the Sciences

Intermediate Algebra

Mathematical Excursions (MindTap Course List)

Mathematical Applications for the Management, Life, and Social Sciences

Single Variable Calculus: Early Transcendentals

Elementary Technical Mathematics

Trigonometry (MindTap Course List)

Contemporary Mathematics for Business & Consumers

Elements Of Modern Algebra

Elementary Geometry For College Students, 7e

Calculus: Early Transcendental Functions (MindTap Course List)

Calculus of a Single Variable

Elementary Geometry for College Students

Finite Mathematics for the Managerial, Life, and Social Sciences

Multivariable Calculus

Calculus (MindTap Course List)

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Study Guide for Stewart's Multivariable Calculus, 8th

Introduction To Statistics And Data Analysis

Research Methods for the Behavioral Sciences (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)

Statistics for Business & Economics, Revised (MindTap Course List)

Mathematics For Machine Technology

STATISTICS F/BUSINESS+ECONOMICS-TEXT

College Algebra (MindTap Course List)