Suppose that the annual costs of hosptial for aids patients

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Suppose that the annual costs of hosptial for AIDS patients is as follow: a single payment of 10 thousand for materials, due at the begining of the year;12 payments of $3 thousand for rent, due at the begining of the month;12 payments of $6 thousand for salaries, due at the end of each month, these costs are to be covered by revenues from two sources

a grant for $100 thousand from the provincial govt that is deposited at the begining of the year in a bank account paying interest at a stated annual rate of 9 percent and private donations that will be deposited in the same bank account at the end of ninth month, following a fund drive.
calculate the private donations that are needed to cover the annual costs of the hosptial

Reference no: EM13571403

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