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Hillier Hillier
wrote...
Posts: 550
Rep: 5 0
6 years ago
National Research Council is considering the establishment of $2 million endowment held in perpetuity of a Visiting Professor chair at UOIT. The ongoing cost will be $12 500 at the end of each month. What monthly compounded nominal rate of return must be earned to fully fund the position?
A) 0.625%
B) 6.25%
C) 0.075%
D) 7.5%
E) 6%
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
B
Hillier Author
wrote...
5 years ago
Thanks so much
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