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Five years ago, an alumnus of a university donated $52,408.51 to establish a permanent endo scholarships were awarded 1 year after the contribution. If the amount awarded each year, the is $4,193.01, the rate of return earned on the fund is closest to:

Five years ago, an alumnus of a university donated $52,408.51 to establish a permanent endo scholarships were awarded 1 year after the contribution. If the amount awarded each year, the is $4,193.01, the rate of return earned on the fund is closest to:

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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QUESTION 5 Five years ago, an alumnus of a university donated $52,408.51 to establish a permanent endowment for scholarships. The first scholarships were awarded 1 year after the contribution. If the amount awarded each year, that is, the interest on the endowment, is $4,193.01, the rate of return earned on the fund is closest to:
Transcribed Image Text:QUESTION 5 Five years ago, an alumnus of a university donated $52,408.51 to establish a permanent endowment for scholarships. The first scholarships were awarded 1 year after the contribution. If the amount awarded each year, that is, the interest on the endowment, is $4,193.01, the rate of return earned on the fund is closest to:
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