Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
Answer:
$5,920.98
Explanation:
The computation of the annual scholarship payment would be shown below:
Future value = Donated amount × (1 + rate of interest)^number of years
= $100,000 × (1 + 0.04)^10
= $148,024.43
Now the annual scholarship payment would be
= $148,024.43 × 0.04
= $5,920.98
Hence, the annual scholarship payment is $5,920.98
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.
