A university has been approached by a wealthy donor who is, Ask an Expert

Finance

A University has been approached by a wealthy donor who is interested in providing $500,000 in scholarships each year in perpetuity for finance majors. After consulting with the University's investment firm it is determined that the donation can be invested at a 7% rate.

How much will the donor need to contribute today in order to fund the scholarship?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91594190

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