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perpetual scholarship that makes its first payment in 1 year. If the college's discount rate is 4%, You have $400,000 to donate to your college.

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perpetual scholarship that makes its first payment in 1 year. If the college's discount rate is 4%, You have $400,000 to donate to your college. You want to endow how large will the annual scholarship payment be? The annual scholarship payment will be s (Round to the nearest dollar.)

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