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Assume you would like to endow a 25,000 annual scholarship at your university. The university tells you they use a 4% interest rate for these
Assume you would like to endow a 25,000 annual scholarship at your university. The university tells you they use a 4% interest rate for these calculations, how much will you need to give the university? Assume you want to save for 10 years to create this gift. how much would you need to save each month if your interest rate is 6%
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