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3 years ago

Mr. Frohardt donated $40,000 toward future scholarships. The scholarships are to be paid according to the following schedule:

Business

1 answer:

brilliants [131]3 years ago

4 0

Answer:

18 full scholarships will be awarded

Explanation:

year beginning interest scholarship ending

balance earned awarded balance

1 40000 43200 1000 42200

2 42200 45576 1500 44076

3 44076 47602 2000 45602

4 45602 49250 2500 46750

5 46750 50490 3000 47490

6 47490 51289 3500 47789

7 47789 51613 4000 47613

8 47613 51422 4500 46922

9 46922 50675 5000 45675

10 45675 49329 5000 44329

11 44329 47876 5000 42876

12 42876 46306 5000 41306

13 41306 44610 5000 39610

14 39610 42779 5000 37779

15 37779 40801 5000 35801

16 35801 38666 5000 33666

17 33666 36359 5000 31359

18 31359 33868 5000 28868

19 28868 31177 5000 26177

20 26177 28271 5000 23271

21 23271 25133 5000 20133

22 20133 21743 5000 16743

23 16743 18083 5000 13083

24 13083 14129 5000 9129

25 9129 9860 5000 4860

26 4860 5249 5000 249

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Moringa products corporation had common stock of $820,000 and retained earnings of $1,250,000 on january 1. during the year, $75

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