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| rev | Admin | (Created page with "'''Solution: B''' The PV of the first scholarship from the foundations point of view is <math display = "block">-(20,000 / 0.06)\left[1-\left(1 /(1.06)^4\right)\right]+\left(1 /(1.06)^5\right)(8,000 / 0.06)\left[1-\left(1 /(1.06)^{10}\right)\right]=-25,303</math> So it loses $25,303 every year beginning from t=0. The PV of this perpetuity is $25,303 / 0.06-25,303=-447,020 This implies that the investment needed to fund this is $447,020. '''References''' {{cite web |...") | Dec 4'23 at 20:28 | +731 |