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5 You want to endow a scholarship that will pay $10,000 per year forever, starting one year from now. If the school's endowment discount rate
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You want to endow a scholarship that will pay $10,000 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? How would your answer change if you endow it now, but it makes the first award to a student 10 years from today? In the first case, the amount you must donate today is $. (Round to the nearest cent.)Step by Step Solution
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