How much will it cost to endow a 24,967 per year scholarship if the endowment earns...

Question

Question

How much will it cost to endow a 24,967 per year scholarship if the endowment earns 5 interest?

business accounting

Answer 1

Answer #1

Cost of endowment is = Scholarship per year /5%

Cost of endowment is = (25967/0.05)

Cost of endowment is $ 499,340/.

Answer 2

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