The Philippine Association of Board Examiners (PABE) desires to award a P1,600 scholarship annually to deserving students for as long as its scholarship fund shall last. The fund was started July 1, 1977 by a donor in the amount of P24,000. The PABE invested this sum at that time at 4% per annum and plans on adding P200 each year to the fund from its dues starting July 1, 1978 for as long as awards are made. A. For how many years starting July 1, 1978 can scholarship be awarded? B. What will be the balance in the fund after the last award was made?
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- The Philippine Institute of Civil Engineers desires to award a P3,600 scholarship annually to deserving students for as longas its scholarship fund shall last. The fund was started on July 1, 1977 by a donor in the amount of P18,000. The PICE invested this sum at that time at 8% per annum and plans on adding P600 each year to the fund from its dues starting July 1, 1978, for as long as awards are made.2. For how many years starting July 1, 1978, can the scholarship be awarded? 3. What will be the balance in the fund after the last award is made?The Philippine Association of Board Examiners (PABE) desires to award a P3, 600 scholarships annually to deserving students for as long as its scholarship fund shall last. The fund was started July I, 1977 by a donor in the amount of P 18, 000. The PABE invested this sum at that time at 8% per annum and plans on adding P600 each year to the fund flow its dues starting July 1, 1978 for as long as awards are made. a. For how many years, starting July I, 1978 can scholarship be awarded? b. What will be the balance in the fund after the last award is made?The officers and board of directors of the Chemical Engineers of the Philippines desires to award a P36,000 scholarship annually to deserving Chemical engineering students for as long as its scholarship fund shall last. The fund was started July 2002 by a donor in the amount of P180, 000. The officers invested this sum at that time at 8% per annum and plans on adding P6, 000 each year to fund its dues starting July 1, 2003 for as long as awards are made. For how many years starting July 1, 2003 can scholarship be awarded?
- The officers and board of directors of the Institute of Integrated Electrical Engineers desire to award a Php 3,600 scholarship annually to deserving electrical engineering students for as long as its scholarship fund shall last. The fund was started on July 1, 1987 by a donor in the amount of Php 18,000. The IIEE invested this amount at that time at 8% per annum and plans on adding Php 600 each year to the fund from its dues starting July 1, 1988 for as long as awards are made.a. For how many years starting July 1, 1988 can scholarship be awarded?b. What will be the balance in the fund after the last award is made?c. Draw the cash flow diagram.The Alumni Association of a university desires to award 730,000 pesos scholarship annually to deserving students for as long as its scholarship fund shall last. The fund was started on July 1, 2018 by a donor in the amount five times of 730,000. The Alumni Association invested this sum at that time at 8% per annum and plans on adding an amount of 1000 per year to fund from its dues starting July 1, 2019 for as long as awards are made. For how many years starting July 1, 2019 can scholarship be awarded?The officers and Board of Directors of the Philippine Institute of Civil Engineers desire to award a P3,000 scholarships annually to deserving Civil Engineering students for as long as its scholarship fund last. The fund was started September 1, 2007 by a donor in the amount of P18,000. The PICE invested this amount at that time at 8% per annum, and plans on adding P600 each year to the fund from its dues starting September 2008 for as long as awards are made. How to solve for how many years starting September1, 2008 can scholarship be awarded?
- The Alumni Association of a university desires to award 260000 dollars scholarship annually to deserving students for as long as its scholarship fund shall last. The fund was started on July 1, 2018 by a donor in the amount 1,300,000 dollars . The Alumni Association invested this sum at that time at 8% per annum and plans on adding an amount of 12,000 per year to fund from its dues starting July 1, 2019 for as long as awards are made. For how many years starting July 1, 2019 can scholarship be awarded?A philanthropist put up an account to award P30,000 worth of scholarship grant every year to selected engineering students. The initial amount worth P100,000 was deposited to the account on January 1, 2019 at 5% compounded semi-annually rate. Starting January 1, 2020, P10000 each year was added to the fund and lasted for as long as awards can be made. 1. For how many years starting January 1, 2020 can the scholarship last 2. What will be the balance in the fund after the last scholarship fund was awarded 3. Find the effective rate.An alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at i = 8% per year is closest to: (a) $190,820 (b) $122,280 (c) $127,460 (d) $132,040
- Sam wants to donate $1,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of j4-3.81% p.a. effective and the first scholarship will be first awarded 2.5 years after the date of the donation. (b) Assume that the fund's earnings rate rate has changed from 4-3.81% p.a. to j4-3.56% p.a. one year before the first scholarship payment. How much does Sam need to add to the fund at that time (one year before the first scholarship payment) to ensure that scholarship amount will be unchanged (rounded to two decimal places)? Question 9Answer a. 78309.64 b. 74276.05 C. 71226.96 d. 75395.75A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant P50,000 for each year for the first 5 years at 8% compounded monthly, P80,000 for each year for the next 5 years at 8% compounded quarterly, and P100,000 each year thereafter at 8% compounded semi-annually interest,. The scholarship will start one year after the fund is established. What is the amount of the donation?A donor established a scholarship that will pay $15,000 per year to a Kelley student. The scholarship will be awarded for the first time in September of 2023 (i.e., the first payment occurs three years from now). The donor decides that the scholarship should be provided in perpetuity. The IU Foundation manages investments like this for the Business School. The Foundation anticipates earning an APR of 5.6% per year on the invested funds. What is the amount of the donation that must be given to the IU Foundation today to endow this Kelley scholarship?