A scholarship provider has $500,000 which she will invest today to fund a scholarship forever. She expects to earn 8% on her money each year. If she wants to begin paying out the scholarship starting today, what will the annual scholarship payment be? O $6,750,000.00 $80,000.00 O $40,000.00 O $66,347.51 O $36,800.00 O $37,037.04

A scholarship provider has $500,000 which she will invest today to fund a scholarship forever. She expects to earn 8% on her money each year. If she wants to begin paying out the scholarship starting today, what will the annual scholarship payment be? O $6,750,000.00 $80,000.00 O $40,000.00 O $66,347.51 O $36,800.00 O $37,037.04

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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