Suppose that the first scholarship award occurs five years from now but is to grow at 2% per year…

Consider the scholarship fund in the preceding question. Suppose that the first scholarship award occurs one year from now and the donor wants the scholarship to grow by 2% per year. How much should the donor deposit if the fund earns

a. 6% per period?

b. 8% per period?

Suppose that the first scholarship award occurs five years from now but is to grow at 2% per year after the fifth year, the time of the first $3,000 award. How much should the donor deposit if the fund earns

c. 6% per year?

d. 8% per year?

"Is this question part of your assignment? We can help"

ORDER NOW

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *