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A one-time gift to your college will provide $35,000 in scholarship funds next year with that amount increasing by 2 percent annually thereafter. If the

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A one-time gift to your college will provide $35,000 in scholarship funds next year with that amount increasing by 2 percent annually thereafter. If the discount rate is 5.5 percent, what is the current value of this perpetual gift? $714,285.71 $726,849.29 $1,000,000.00 $748,602.49 $777,777.78

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