On completion of her introductory finance course, marla lee was so with the amount of useful and interesting knowledge she gained that she convinced her parents, who were wealthy alums of the university she was attending, to create an endowment. the endowment is to allow three needy students to take the introductory finance course each year in perpetuity. the guaranteed annual cost of tuition and books for the course is $1,100 per student. the endownment will be created by making a single payment to the university. the university expects to earn exactly 4% per year on these funds.
a) how large an initial single payment must marla's parents make to the university to fund the endowment ? round to the nearest dollar
b) what amount would be needed to fund the endowment if the university could earn 6% rather than 4% per year on the funds? round to the nearest dollar
Answers: 2
Business, 22.06.2019 07:10
1. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount of unearned interest. 2. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount necessary to pay off the loan. ! i entered 967.82 for question 1 and 5,455.78 for question 2 and it said it was
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Business, 22.06.2019 11:00
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Business, 22.06.2019 18:30
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