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QUESTION
You would like to endow a scholarship. In-state tuition is currently $10,000, payable at the end of each year. Tuition will grow by 3% per year. The...
You would like to endow a scholarship. In-state tuition is currently
$10,000, payable at the end of each year. Tuition will grow by 3% per
year. The opportunity cost of capital is 5%. How much money should you
invest today to endow a scholarship that pays full tuition once every year
starting 10 years from now?
