Multiple Choice
A hospital received a contribution to its endowment fund of $2 million. The hospital can never touch the principal, but it can use the earnings. At an assumed interest rate of 9.5 percent, how much can the hospital earn to help its operations each year?
A) $95,000
B) $19,000
C) $190,000
D) $18,000
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q125: If the quarterly rate of interest is
Q126: The present value of an annuity of
Q127: With a(n) _, equal payments (or receipts)
Q128: The future value of a $100 deposit
Q129: Assume that a borrower is willing to
Q131: You need to have $35,000 on hand
Q132: If you have an account with a
Q133: For positive interest rates, the future value
Q134: The effective annual rate is determined by
Q135: The present value of a $100 annuity