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Suppose you decide to endow a chair in finance. The goal of the endowment is to provide $ 2 0 0 , 0 0 0

Suppose you decide to endow a chair in finance. The goal of the endowment is to provide $

200, 000

of financial support per year forever. If the endowment earns a rate of

4 %,

how much money will you have to donate to provide the desired level of support?

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