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To honor your instructor in ECON 310, you have decided at graduation to endow a professorship in engineering economics. If accou at the UM Foundation earn 4% interest, you must make a lump-sum gift of $___ to generate an annual income of $200,000 for your favorite professor forever. A. none of these OB. $12,500,000 OC. $3,000,000 OD.$5,000,000 OE. $10,000,000

To honor your instructor in ECON 310, you have decided at graduation to endow a professorship in engineering economics. If accou at the UM Foundation earn 4% interest, you must make a lump-sum gift of $___ to generate an annual income of $200,000 for your favorite professor forever. A. none of these OB. $12,500,000 OC. $3,000,000 OD.$5,000,000 OE. $10,000,000

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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To honor your instructor in ECON 310, you have decided at graduation to endow a professorship in engineering economics. If accounts at the UM Foundation earn 4% interest, you must make a lump-sum gift of $ to generate an annual income of $200,000 for your favorite professor forever. A. none of these OB. $12,500,000 OC. $3,000,000 OD.$5,000,000 OE. $10,000,000
Transcribed Image Text:To honor your instructor in ECON 310, you have decided at graduation to endow a professorship in engineering economics. If accounts at the UM Foundation earn 4% interest, you must make a lump-sum gift of $ to generate an annual income of $200,000 for your favorite professor forever. A. none of these OB. $12,500,000 OC. $3,000,000 OD.$5,000,000 OE. $10,000,000
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