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2) You want to endow a scholarship that will pay $8,000 per year forever, starting one year from now. If the school's endowment discount rate

2) You want to endow a scholarship that will pay $8,000 per year forever, starting one year from now. If the school's endowment discount rate is 5%, what amount must you donate to endow the scholarship?

The amount you must donate is $_________

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