How large must the endowment? be

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A generous benefactor to the local ballet plans to make a one-time endowment which would provide the ballet with? $150,000 per year into perpetuity. The rate of interest is expected to be 5 percent for all future time periods. How large must the endowment? be?

This is finance class dealing in FV and PV. I would like the answer in an Excel format.

Reference no: EM132746855

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