Calculate the single deposit which will fund the endowment

Reference no: EM13203192

A successful engineer wants to fund an endowment for a university which will pay $10,000, $15,000, $20,000, and $25,000 for the 1st, 2nd, 3rd, and 4th quarters respectively, each year, forever. For an interest rate of 8% compounded quarterly, calculate the single deposit, which, if made now, will fund this endowment.

Reference no: EM13203192

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