Problema college received a contribution to its endowment, Ask an Expert

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A college received a contribution to its endowment fund of $2 million. They can never touch the principal, but they can use the earnings. At an assumed interest rate of 9.5 percent, how much can the college earn to help its operations each year? Describe comprehensively as well as provide all workings and methods.

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Category:- Basic Finance
Reference No.:- M91147190

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