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Scott wants to endow a scholarship for the College of Business. The scholarship will make a payment of $ 1 5 , 0 0 0

Scott wants to endow a scholarship for the College of Business. The scholarship will make a payment of $15,000 per year forever.
The first scholarship will be paid five years from today.
Suppose the interest rate is 5%. How much does Scott need to set up the scholarship today?
A. $223,864.62
B. $235,057.85
C. $246,810.74
D. $300,000
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