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How much would mr naidu need to donate to the trust fund

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Reference no: EM132894157

Problem 1: Mr Naidu wishes to endow a scholarship of $ 5 000 per year for the next 15 years. The scholarship will be paid out of a trust fund at the end of each year, with the first payment occurring one year from now. How much would Mr Naidu need to donate to the trust fund today if it is expected to earn 7% pa?

A. $45,535.50
B. $91,285.46
C. $80,250.00
D. $75000.00

Reference no: EM132894157

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