You dream of endowing a chair in finance at the local university that will provide a salary of $150,000 per year forever,with the first cash flow to be one year from today.If the university promises to invest the money at a rate of 5% per year,how much money must you give the university today to make your dream a reality?
A)$3,000,000
B)$15,000,000
C)$2,857,143
D)This question cannot be answered.

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The Answer of You dream of endowing a chair in finance at the local university that will provide a salary of $150,000 per year forever,with the first cash flow to be one year from today.If the university promises to invest the money at a rate of 5% per year,how much money must you give the university today to make your dream a reality?
A)$3,000,000
B)$15,000,000
C)$2,857,143
D)This question cannot be answered.

You Dream of Endowing a Chair in Finance at the Local