How much does Margaret need to donate to a trust each year for 6 years to have exactly enough in the trust to be able to
Posted: Fri Mar 04, 2022 9:39 am
How much does Margaret need to donate to a trust each year for 6
years to have exactly enough in the trust to be able to make
scholarship payments of $9,310.00 per year forever? The first
annual $9,310.00 scholarship payment will be made in 7 years from
today. To fund the trust, Margaret plans to make equal annual
savings donations to the trust for 6 years. Her first donation to
the trust will be made in one year from today. The expected return
for the trust is 18.45 percent per year.(Round the value to 2
decimal places)
years to have exactly enough in the trust to be able to make
scholarship payments of $9,310.00 per year forever? The first
annual $9,310.00 scholarship payment will be made in 7 years from
today. To fund the trust, Margaret plans to make equal annual
savings donations to the trust for 6 years. Her first donation to
the trust will be made in one year from today. The expected return
for the trust is 18.45 percent per year.(Round the value to 2
decimal places)