You would like to establish a fund that will be used to


You would like to establish a fund that will be used to offer a scholarship each year to a worthy student at your alma mater. You would like the total annual award to be $5,000, with the first award to be presented next year. Your alma mater is able to invest the funds at a constant, annual, tax-free rate of 8%. How much must you donate today to fund this award? Round your answer to the nearest dollar.

Solution Preview :

Prepared by a verified Expert
Finance Basics: You would like to establish a fund that will be used to
Reference No:- TGS02880538

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)