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An endowment fund is planned for a new scholarship. The annual scholarship will be $25,000 per year and will start 11 years from now. The

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An endowment fund is planned for a new scholarship. The annual scholarship will be $25,000 per year and will start 11 years from now. The planners for the endowment will set aside the same amount each year for years 1-10. Use an 8% /year interest rate. a) Draw the cash flow diagram b) How much is set aside each year to establish the endowment fund

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