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A donor (you) wishes to start an endowment thatwill provide scholarship money of $50,000 per yearbeginning in year 5 and continuing indefinitely. Ifthe university earns
- A donor (you) wishes to start an endowment thatwill provide scholarship money of $50,000 per yearbeginning in year 5 and continuing indefinitely. Ifthe university earns 11% per year on the endowment, the amount you must donate now is closest to:
A.$248,360
B.$ 269773
C.$273,200
D.$225,470
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Marketing
Authors: John McMurry, Robert Fay
13th Edition
125973806X, 9781259738067
