braziga2727
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- Nov 22, 2010
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An elderly alumni wishes to provide a perpetual scholarship for special need students. In other words, she wishes to provide a total of $13,000 per year forever.
This kind of gift is known as an endowment, and is possible by using only the interest from the endowment as the scholarship amount. Assuming the endowment earns 5.20% per year, what is the amount of the endowment that the alumni would have to provide?
We covered NPV in class, not endowments
I dont care about the answer, more of HOW to get the answer, im trying to figure it out using excel
This kind of gift is known as an endowment, and is possible by using only the interest from the endowment as the scholarship amount. Assuming the endowment earns 5.20% per year, what is the amount of the endowment that the alumni would have to provide?
We covered NPV in class, not endowments
I dont care about the answer, more of HOW to get the answer, im trying to figure it out using excel