Business, 04.03.2021 21:30, stinematesa
XYZ wants the foundation to make the first annual donation payment to GMU in 7 years from today, she wants that first donation payment to be $29,000, and she wants annual donations to GMU to increase by 1.6 percent per year forever. To fund the foundation, XYZ plans to make equal annual savings contributions to the foundation for 6 years. How much does XYZ need to contribute to the foundation each year for 6 years to have exactly enough in the foundation to meet her goal if she makes her first contribution to the foundation in one year from today, all savings contributions to the foundation are equal, and funds held by the foundation are expected to earn 8.1 percent per year
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XYZ wants the foundation to make the first annual donation payment to GMU in 7 years from today, she...
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