Finance and Accounting
All
assignments
are
due
on
the
date
and
time
specified.
Late
assignments
will
not
be
accepted.
All
assignments
are
to
be
submitted
in
hard
copy
form,
–
i.e.
p
electronically
submitted
assignments.
Assignments
must
he
typed.
Assiç’,zmen!s
that
do
not
meet
the
above
criteria
will
not
be
marked.
ACADEMIC
INTEGRITY
This
is
an
individual
assignment.
Should
it
be
determined
that
a
student
plagiarized
any
portion
of
an
assignment
from
another
student
both
the
plagiarist
and
the
“donor”
will
receive
a
grade
of
zero
for
the
assignment.
Assignment
Details
Provide
all
calculations
necessary
to
support
your
answers.
It
is
strongly
recommended
you
use
an
Excel
spreadsheet
(or
equivalent)
to
do
this
assignment.
You
are
the
fund
raising
manager
of
a
charity
that
will
celebrate
its
100th
anniversary
in
exactly
22
years
from
now.
To
commemorate
this
event,
your
charity’s
board
of
directors
would
like
to
start
a
scholarship
fund
to
pay
for
the
university
education
of
10
students
that
will
graduate
at
thai:
time
(i.e.
22
years
from
now).
Your
task
is
to
come
up
with
a
plan
to
pay
for
this
goal
by
setting
up
and
investing
in
a
scholarship
fund.
Here
are
the
details
so
far
•
Today
is
September
1,
2013
—
currently
you
have
no
money
in
your
scholarship
fund.
•You
checked
on
the
cost
of
a
university
education
for
the
upcoming
year
(September
2013
to
April,
2014).
Tuition,
books,
living
expenses
&
incidentals
will
cost
in
total
$20,400
per
student.
You
estimate
the
annual
inflation
rate
will
be
3.5%.
see
over
•
Your
charity
wants
to
pay
the
expenses
mentioned
in
the
previous
point
for
10
students
for
4
years
of
university.
All
10
of
these
students
are
expected
to
start
their
university
studies
exactly
18
years
from
now
on
September
1SL,
2031,
and
complete
them
in
4
years,
just
in
time
to
celebrate
your
lOOrn
anniversary..
•
You
assume
you’ll
pay
the
students
their
yearly
scholarship
at
the
beginning
of
each
school
year.
•
You
intend
to
make
22
equal
annual
payments
into
an
investment
st
.
rid
fund
to
pay
for
this
project.
The
1
payment
is
due
today,
the
2
payment
a
year
from
now,
etc.
You’ve
talked
to
your
investment
agent
and
she
said
a
safe
assumption
for
the
expected
rate
of
return
is
4.3%
per
year.
Your
charity
doesn’t
pay
tax.
Questions
for
you
to
Answer:
1)Given
the
above
Information
what
is
the
required
equal
annual
payment
necessary
to
fund
your
project?
2)Assume
you
make
6%
return
on
your
Investments
on
average
–
what
would
your
equal
annual
payment
be
under
this
assumption?
3)Besides
the
rate
of
return
on
your
investment,
what
else
is
a
significant
financial
assumption
on
your
part?
Describe,
with
numbers,
how
this
assumption
could
impact
your
plan.
Please
note
there
will
be
no
problem
finding
10
qualified
students!
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