Homework Help: calculus

Posted by soffy on Tuesday, June 12, 2012 at 1:09pm.

a university alumni group wishes to provide an annual scholarship in the amount of 1500 beginning next year. if the scholarship fund will earn an interest rate of 8%/year compounded continuously, find the amount of the endowment the alumni are required to make now.

calculus - Steve, Tuesday, June 12, 2012 at 1:35pm
1500 = P(e^.08-1)
P = 18010

Answer this Question

Related Questions

Mathhh - what is PSU's (penn state university)"annual scholarship"...
statistics - The director of an alumni association for a university wants to ...
economics - Suppose you wish to create a scholarship fund which will pay 73.43 ...
Accounting Math - Can anyone please show me the calculation for these problems: ...
algebra - A continuously compounded account starts with $1500 in principal. The...
Finance - Suppose that a company decides to make an annual gift to fund ...
Engineering Economics - Hi there, I am having some trouble solving this problem...
math - A bank account earns 10 percent interest compounded continously. What ...
calculating annuity - IF a company will generate 80,000 in annual revenue each ...
stat - McDonald Corporation wishes to estimate the average annual sales at its ...

For Further Reading

First Name:
School Subject:
Answer: