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tetleyelmo tetleyelmo
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7 years ago
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?
A) $95,000   
B) $19,000   
C) $190,000   
D) $18,000
E) $9,500
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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BlimpBlimp
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7 years ago
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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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