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Suppose a wealthy individual, who has no family or relatives, leaves his entire estate, estimated to be worth $10,000,000 to Stevenson University. If the University
Suppose a wealthy individual, who has no family or relatives, leaves his entire estate, estimated to be worth $10,000,000 to Stevenson University. If the University invests this money into a perpetuity that earns 5% APR, with interest accrued annually, how much interest will the University be able to earn and spend every year?
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