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A donor you wishes to start an endowment that will provide scholarship money of $40000 per year beginning in year 5 and continuing indefinitely

A donor (you) wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. If the university earns 10% per year on the endowment, the amount you must donate now is closest to:
(a) $–225,470
(b) $–248,360
(c) $–273,200
(d) $–293,820

May 01 2020 View more View Less

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