Business Finance
Math question Help Needed

Question Description

A college received a contribution to its endowment fund of $2 Million. They can never touch the principal, but they can use the earnings. At an assumed interest rate of 9.5%, how much can the college earn to help its operation each year?

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Final Answer

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2,000,000*9.5/100

20000*9.5

190000 each year

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David M. (442)
UIUC

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