You intend to endow a scholarship that pays $6,000 every 6 months, starting 6 months from...
You intend to endow a scholarship that pays $6,000 every 6 months, starting 6 months from now. If the appropriate discount rate is 55% per 6-month period, how much money will you have to donate today to endow the scholarship?
You will need to donate _______ $.
(Round to the nearest dollar.)
Homework Answers
Please find the required answer: we need to donate $10,909 now, to reap $6000 every 6 month.
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