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An endowed faculty chair is created when a benefactor makes a donation of sufficient size that earnings from the donation pay the salary and benefits

An endowed faculty chair is created when a benefactor makes a donation of sufficient size that earnings from the donation pay the salary and benefits of a professor forever. How much would have to be donated to endow a chair in your name if the salary and benefits were $90,000 and the interest rate was 5%? Assume that the first salary(with benefits) is paid in one years time

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