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  3. -/1.05 points smithnm13 11.6.047. melissa agrees t

-/1.05 POINTS SMITHNM13 11.6.047. Melissa agrees to contribute $500 to the alumni fund at the...

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-/1.05 POINTS SMITHNM13 11.6.047. Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 6 years. Shannon wants to match Melissa's gift, but he wants to make a lump-sum contribution If the current interest rate is 2.3% compounded annually, how much should Shannon contribute to equal Melissa's gift? (Round your answer to the nearest cent.) Need Help? Read T alk to Tudor

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