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You have ​$400 comma 000 to donate to your college. You want to endow a perpetual scholarship that makes its first payment in one year. If the​ college's discount rate is 6​%, how large will the annual scholarship payment​ be?

Respuesta :

ochukoorakpoghenor

Answer:

$376,000

Explanation:

adeosawaru

Answer: The annual scholarship payment will be $24,000.00

Explanation: Perpetuity refers to a bond or other security with no fixed maturity date.

Using the donation of $400,000 at the discount rate of 6%. The annual scholarship will be the donated amount multiplied by the discount rate.

That is, $400,000 × 0.06 = $24,000.00

Therefore, the annual scholarship payment will ne $24,000.00

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