Answer:
The returns can cover a scholarship of $35,200
Explanation:
An annuity is and account that will be earning and paying out a continuous amount every year. Brandon Ramirez has invested $320,000 at 11% per year.
If the returns are to fund a scholarship, we will calculate the yearly return.
Yearly return= principal* rate
Yearly return= 320,000 * 0.11
Yearly return= $35,200
So the returns can cover a scholarship of $35,200
