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1.You want to endow an annual graduation party at your university.You want the event to be a memorable one, so you budget $30,000 per year

1.You want to endow an annual graduation party at your university.You want the event to be a memorable one, so you budget $30,000 per year forever for the party.If the university earns 8% per year on its investments, and if the first party is in one year's time,how much will you need to endow the party?

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