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Betty has decided to donate some funds to her local community college. Betty would like to fund an endowment that will provide a scholarship of

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Betty has decided to donate some funds to her local community college. Betty would like to fund an endowment that will provide a scholarship of $25,000 each year in perpetuity (for a very long time), and also a special award, Student of the Decade," each ten years (again, in perpetuity) in the amount of $50,000. How much money does Betty need to donate today, in one lump sum, to fund the endowment? Assume the fund will earn a return of 8% per year

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