A health clinic invests $578,467 in an endowment fund to support its community health program. They expect an annual return of 13.8% over the next 15 years, and the returns are compounded monthly What will be the future value of this investment at the end of 15 years? Round the answer to two decimal places if necessary.
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- If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32 are made starting on December 31, 2020, that will deplete the fund, what is the interest rate being earned if interest is compounded annually?Jackson Clinic is starting an endowment fund to pay for the expenses of a allied health training program. The expenses are $2,500,000 per year, and the program needs to be endowed for 50 years. Assuming payments are made at the end of each year and the interest rate is 7% per year, what should be the initial size of the endowment?Downtown Medical Center is starting an endowment fund to pay for the expenses of a community outreach pediatric program. The expenses are $925,000 per year, and the program is expected to last 5 years. Assuming payments are made at the end of each year and the interest rate is 6% per year, the size of the initial endowment should be___________
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- Greendale Community College has established a scholarship that will provide awards at the start of every 6 months for the foreseeable future. To fund these, $1,470,000 is being placed in a trust fund earning 9.0% compounded annually. How much is each scholarship payout? $0.00 Round to the nearest centA college wants to provide students with a perpetual scholarship of $10,000 at the end of every 3 months. How large should their endowment fund be if invested at X% (choose the rate) compounded quarterly?A church congregation has raised $37,625 for future outreach work. If the money is invested in a fund paying 7% compounded quarterly, what annual payment can be made for ten years from the fund if the first payment is to be made four years from the date of investment in the fund? The size of the payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- If a donation of $100,000 is expected to pay out scholarships of $10,000 every year and the funds earn 7.5% compounded annually, how long will it be before the first annual payment can be made?Beginning next year, a foundation will support an annual seminar on campusby using the interest earnings on a $100,000 gift it received this year. It is determined that 6% interest will be realized for the first 10 years, but that plans should be made to anticipate an interest rate of only 4% after that time. What amount should be added to the foundation now in order to fund the seminar at a level of $10,000 per year into infinity?The Cooper Foundation contributes $25,000 per year into an annuity fund for building a new zoo. The fund earns 7.5% interest. Find the amount in the fund at the end of 10 years. (Round your final answer to two decimal places.)