You want to be able to set up a scholraship fund that will last forever and you feel that you can earn 4.5% compounded quarterly. How much money do you have to deposit today in order to be able to provide 2 scholarships of $2000 each?
You want to be able to set up a scholraship fund that will last forever and you feel that you can earn 4.5% compounded quarterly. How much money do you have to deposit today in order to be able to provide 2 scholarships of $2000 each?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.17E
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You want to be able to set up a scholraship fund that will last forever and
you feel that you can earn 4.5% compounded quarterly. How much money do you have to deposit today in order to be able to provide 2 scholarships of $2000 each?
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