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A generous philanthropist plans to make a one-time endowment to a renowned heart research center which would provide the facility with $250,000 per year into

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A generous philanthropist plans to make a one-time endowment to a renowned heart research center which would provide the facility with $250,000 per year into perpetuity. The rate of interest is expected to be 8 percent for all future time periods. How large must the endowment be

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