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After a successful career, you have decided to honor your favorite professor at the U of by establishing an endowment in their name. Endowment funds
After a successful career, you have decided to honor your favorite professor at the U of by establishing an endowment in their name. Endowment funds earn an annual return of 4%. How large of an endowment would you need to provide so that the fund would generate annual income of $35,000 perpetually (forever)? O 625,000 0 1,000,000 O 875.000 O 700,000
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