What should this amount be at an interest rate of 6 percent

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Reference no: EM131975974

A major ball field is being considered to be built in a metropolitan by a High Tech company at a cost of $50M. It is estimated that the annual maintenance cost will be $100K.

The construction company recommends a major renovation every 50 years at a cost of $10M.

If the corporation wants to set up a trust fund to pay for this ball field expense for years to come, what should this amount be at an interest rate of 6%?

Reference no: EM131975974

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