TyleenValdez5828 TyleenValdez5828
  • 24-01-2024
  • Business
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A firm wants to sponsor a new engineering lab at a local university. This requires $2.5 million to construct the lab, $1.2 million to equip it, and $600,000 every 5 years for new equipment. What is the required endowment if the university will earn 6% interest on the funds?

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