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Home Q & A Board Science-Related Homework Help Mathematics
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cjohns21 cjohns21
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A year ago
Mr. Chan has donated $1 million to a college to set up a perpetuity for the purchase of books and journals for a new library to be built and named in his honour. The donation will be invested and earnings will compound for three years, at which time the first of the quarterly perpetuity payments will be made. If the funds earn 6% compounded quarterly, what will be the size of the payments?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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jtarinayjtarinay
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Anonymous
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A year ago
Help! The answer is missing an explanation...
Answer rejected by topic starter
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#3
A year ago
I can't seem to get what was chosen as the best answer either.

Here's my work for reference. Can someone tell me what I am doing wrong?
Anonymous
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3 weeks ago
Help! The answer is missing an explanation...
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