Capital replacements at the end of every fifth year forever

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A foundation was endowed with 15000000 in july 2010. in july 2014 5000000 was expended for facilities and it was decided to provide 250000 at the end of each year forever to cover operation expenses. The first operation expense is in july 2014. If all money earns interest at 5% after the time of endowment. What amount would be available for the capital replacements at the end of every fifth year forever ?

Reference no: EM13986412

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