Foundation with an annual cash donation

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Reference no: EM131308825

The Harsper Foundation was just notified that an anonymous benefactor gifted the Foundation with an annual cash donation. The Foundation will receive an initial amount of $25597, which will decrease by 3% per year. The Foundation will receive the cash for 11 years. If the Foundation saves the donation in an account paying 10% per year, compounded annually, how much will the Foundation have in the account at the end of the 11 years?

Reference no: EM131308825

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