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Home Q & A Board Science-Related Homework Help Mathematics
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Lada Lada
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6 years ago
National Research Council is considering the establishment in perpetuity of a Visiting Professor chair at UOIT. The ongoing cost will be $12 500 at the end of each month. If the money can earn 8% compounded monthly in perpetuity, what endowment is required to fund the position?
A) $156 250
B) $312 500
C) $937 500
D) $1 875 000
E) $2 000 000
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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SupremeSupreme
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6 years ago Edited: A year ago, bio_man
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