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4. A man is considering giving an endowment to a University in order to provide payments of $5,000, $ 4,000, $3,000, and $2,000, respectively, at

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4. A man is considering giving an endowment to a University in order to provide payments of $5,000, $ 4,000, $3,000, and $2,000, respectively, at the end of the first, second third, and fourth quarters during a year. If the interest rate 32% compounded quarterly, what amount should be deposited now so that the quarterly payments can be repeated forever? Draw the cash flow

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