to adopt a charity foundation once she receives her money. She promised to donate annually to her chosen Charity Foundation to support the needs of the foster kids. The foundation will receive $l0,000 for the first six years, $12,000 for the next five years and $15,000 for each year thereafter. The donation will start one year after she receives her money allotment. If the fund earns 7.0% interest, what is the amount of the donation? Please include cashflow diagram and fu
to adopt a charity foundation once she receives her money. She promised to donate annually to her chosen Charity Foundation to support the needs of the foster kids. The foundation will receive $l0,000 for the first six years, $12,000 for the next five years and $15,000 for each year thereafter. The donation will start one year after she receives her money allotment. If the fund earns 7.0% interest, what is the amount of the donation? Please include cashflow diagram and fu
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 52P
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Rose is planning to adopt a charity foundation once she receives her money. She promised to donate annually to her chosen Charity Foundation to support the needs of the foster kids. The foundation will receive $l0,000 for the first six years, $12,000 for the next five years and $15,000 for each year thereafter. The donation will start one year after she receives her money allotment. If the fund earns 7.0% interest, what is the amount of the donation? Please include cashflow diagram and full formulas.
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