Business, 02.06.2020 20:00 sierrawalk3896

LaQuesha Jackson has made a considerable fortune. She wishes to start a perpetual scholarship for engi- neering students at her school. The scholarship will provide a student with an annual stipend of $10,000 for each of 4 years (freshman through senior), plus an additional $5000 during the senior year to cover job search expenses. Assume that students graduate in 4 years, and the money is paid at the beginning of each year with the first award at the beginning of Year 1. The interest rate is 10%.

Required:
a. Determine the equivalent uniform annual cos (EUAC) of providing the scholarship.
b. How much money must LaQuesha donate?

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