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Perry wants to set - up a scholarship at Ryerson University that will pay $ 1 0 , 0 0 0 a year, forever, starting

Perry wants to set

-

up a scholarship at Ryerson University that will pay $

10, 000

a year, forever, starting one year from today. If interest rates are

6 %,

how much money does Perry need to give Ryerson University today?

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