How much does galina need to donate to a trust each year

Reference no: EM133369073

Question: How much does Galina need to donate to a trust each year for 5 years to have exactly enough in the trust to be able to make scholarship payments of $9,960.00 per year forever? The first annual $9,960.00 scholarship payment will be made in 6 years from today. To fund the trust, Galina plans to make equal annual savings donations to the trust for 5 years. Her first donation to the trust will be made in one year from today. The expected return for the trust is 18.54 percent per year.(Round the value to 2 decimal places)

Reference no: EM133369073

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