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A benefactor proposes to endow a professorship at Iowa State University with a gift that will provide a salary of $ 1 0 0 ,

A benefactor proposes to endow a professorship at Iowa State University with a gift that will provide a salary of $

100, 000

a year plus an annual growth rate of

3 %

forever. It will take a larger donation for the

benefactor to set it up today if

. . . . . .

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