If You Want to Be Able to Set Up a Scholarship

question 2

Multiple Choice

If you want to be able to set up a scholarship fund that will last forever and you feel that you can earn 4.8% compounded annually. How much money do you have to deposit today in order to be able to provide 6 scholarships of $3000 each?

• A) $735 000.00
• B) $375 000.00
• C) $37 500.00
• D) $357 000.00
• E) $333 000.00

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Definitions:

Creationism

The belief that the universe and living organisms originate from specific acts of divine creation, as in the biblical account, rather than by natural processes such as evolution.

Scientists

Individuals engaged in systematic activities to investigate and study the structure and behavior of the physical and natural world through observation and experiment.

Late Multiplicity

A term used in developmental psychology to describe a stage where individuals recognize multiple perspectives and understand that some problems may have no clear solution.

Evolution Debate

A discourse or disagreement regarding the validity, mechanisms, and implications of evolution, often between scientific and religious perspectives.