Maintenance money for an athletic complex has been sought Mr

Last updated: 1/27/2024

Maintenance money for an athletic complex has been sought Mr Kendall the Athletic Director would like to solicit donation to cover all future expected maintenance costs for the building These maintenance costs are expected to 1 5 million each year for the first five years 1 8 million each year for years 6 through 10 and 2 million each yea after that The building has an indefinite service life If the money is placed in an account that will pay 8 interest compounded annually how large should the gift be Click the icon to view the interest factors for discrete compounding when i 8 per year The gift should be S million Round to two decimal plagos