Alumnus of west virginia university

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Reference no: EM13754239

An Alumnus of West Virginia University whishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at I = 8% per year is closest to:

  • $190,820
  • $122,280
  • $127,460
  • $132,040

How much must be deposit in your retirement account each year for 10 years starting now if you want to be able to withdraw $50,000 per year forever beginning 30 years from now? Assume the account earns interest at 10% per year.

  • $4,239
  • $4,662
  • $4,974
  • $5,471

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Reference no: EM13754239

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