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To establish a scholarship fund forever at Toronto Metropolitan University paying $10000 annually if the fund will earn interest at 4% and the first payment will be made • immediately, one needs $ • 6 years from now, one needs $ Round your answers to the nearest integer and do not use, in your answers, e.g., input 21356, not 21,356.

To establish a scholarship fund forever at Toronto Metropolitan University paying $10000 annually if the fund will earn interest at 4% and the first payment will be made • immediately, one needs $ • 6 years from now, one needs $ Round your answers to the nearest integer and do not use, in your answers, e.g., input 21356, not 21,356.

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
Problem 1PS
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To establish a scholarship fund forever at Toronto Metropolitan University paying $10000 annually if the fund will earn interest at 4% and the first payment will be made • immediately, one needs $ • 6 years from now, one needs $ Round your answers to the nearest integer and do not use, in your answers, e.g., input 21356, not 21,356.
Transcribed Image Text:To establish a scholarship fund forever at Toronto Metropolitan University paying $10000 annually if the fund will earn interest at 4% and the first payment will be made • immediately, one needs $ • 6 years from now, one needs $ Round your answers to the nearest integer and do not use, in your answers, e.g., input 21356, not 21,356.
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