
Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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While looking around your grandfather's attic for an upcoming ugly sweater party, you discover a historical treasure: the solid gold Brockport Golden Eagle statue, a relic from the founding days of the College! Recognizing its worth, you sell it to the shop on Main Street. With the windfall, you put the funds into a perpetuity trust, supplying Mortimer Hall freshmen with $400 worth of pizzas every year, forever. with a 5% interest rate for the trust, what was the payday you received from the pawnshop for the Golden Eagle?
a- $8,000
b- $10,000
c- $5,000
d- $6,000
e- Intermediate
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