How large a donation must computer colleagues make

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Reference no: EM132158729

Question: Computer Colleagues, Inc., wants its name on the computer engineering building planned for the campus. For naming, the university requires that 60% of the first cost of the building and 20% of the maintenance be covered by an endowment. The building should initially cost $14M, and maintenance will cost $350,000 per year. If the endowment will be invested at 8%, how large a donation must Computer Colleagues make?

Reference no: EM132158729

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