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stranahan stranahan
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Posts: 3324
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7 years ago
You dream of endowing a chair in finance at the local university that will provide a salary of $150,000 per year forever, with the first cash flow to be one year from today. If the university promises to invest the money at a rate of 5% per year, how much money must you give the university today to make your dream a reality?
A) $3,000,000
B) $2,857,143
C) $15,000,000
D) This question cannot be answered.
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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Decrepit_Decrepit_
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#1
Posts: 259
Rep: 34 0
7 years ago Edited: 10 months ago, bio_man
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stranahan Author
wrote...
#2
7 years ago
Thank you for  the help. I had a few questions on a few of them and this really confirmed my answers.
wrote...
#3
4 years ago
tahnsk
wrote...
#4
3 years ago
thx
Anonymous
wrote...
#5
10 months ago
Help! The answer is missing an explanation...
Anonymous
wrote...
#6
10 months ago
Quote from: Anonymous (10 months ago)
Help! The answer is missing an explanation...

Solution provided! Slight Smile
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