An alumnus donates 250000 to the mechanical engineering, Ask an Expert

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An alumnus donates $250,000 to the Mechanical Engineering Department to award $1000/year book scholarships to students for the next 10 years. If the department wants to award the same number of scholarships each year, what is the total number of scholarships that can be awarded? Assume an 8% interest rate, and draw the cashflow diagram.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92412274

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