None An endowment fund is set up with a donation of $130,000. If it earns 7.0% compounded monthly, forhow long will it sustain end-of-month withdrawals of $1,300? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next wholenumber.)

Here, Principal, P= $ 130Amount = $ 1300rate, = 0.07let time, months be xAmount, A = $ 1300A=P…

Answered: An endowment fund is set up with a…

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 22E

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Similar questions

An endowment fund is set up with a donation of $170,000. If it earns 5.8% compounded monthly, for how long will it sustain end-of- month withdrawals of $1,700? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Endowment is for year(s) and month(s).
An endowment fund is set up today. It provides payments of $1500 a year for 6- years (first payment one year from now) followed by $2000 a year thereafter forever. If the interest rate is j1 = 6%, how much is needed to be deposited (invested) today? (Answer to nearest dollar
Please correct answer and don't use hend raiting
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