Beginning next year, a foundation will support an annual seminar on campus by using the interest earnings
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Beginning next year, a foundation will support an annual seminar on campus by using the interest earnings on a $100,000 gift it received this year. It is determined that 6% interest will be realized for the first 10 years, but that plans should be made to anticipate an interest rate of only 4% after that time. What amount should be added to the foundation now in order to fund the seminar at a level of $10,000 per year into infinity?
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