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please solve and explain 16. You have $100,000 to donate to your college. You want to endow a perpetual scholar- ship that makes its first

please solve and explain

16. You have $100,000 to donate to your college. You want to endow a perpetual scholar- ship that makes its first payment in 1 year. If the college's discount rate is 4%, how large will the annual scholarship payment be

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