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.)
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The Cooper Foundation contributes $25,000 per year into an
Formula to calculate FV in annuity:
F = P * ([1 + i]^N - 1 )/i
Wherein:
P = $25,000 deposited annualy
i = annual rate ie. 7.5%
t = no. of deposits = 10
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- An endowment fund is providing an annual scholarship of P50,000 for the first five years, P60,000 for the next five years, and P90,000 thereafter. The fund will be established today and will award the first scholarship after a year. The fund earns 4.5 % annual interest. Find the present worth of this cost.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 fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The fund will grant P120,000 each year for the first 5 years, P 30,000 per quarter for the next 5 years and P10,000 each month thereafter. The scholarship will start one year after the fund is established. What is the amount of the donation if i = 12% compounded annually?
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