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Problem 4-8 Today you want to endow a scholarship that will pay $12.000 per year forever, starting 10 years from now. If the school's endowment

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Problem 4-8 Today you want to endow a scholarship that will pay $12.000 per year forever, starting 10 years from now. If the school's endowment discount rate is 7%, what amount must you donate to endow the scholarship? The amount you must donate today to endow a scholarship that will pay $12,000 per year forever, starting in 10 years, is S(Round to the nearest cent)

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