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Sarah Bishop, having become a very successful engineer, wishes to start an endowment at UMD that will provide scholarships to four deserving engineering students (
Sarah Bishop, having become a very successful engineer, wishes to start an endowment at UMD that will provide scholarships to four deserving engineering students ( $10,000 for each student per year) beginning in Jan, the 6th year and continuing indefinitely. If the university earns 10% per year on endowments funds, the amount Sarah must donate now is closest to
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