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The Commerce Society would like to endow an annual prize of $312.00 to the student who is deemed to have exhibited the most class spirit.

The Commerce Society would like to endow an annual prize of $312.00 to the student who is deemed to have exhibited the most class spirit. The Society is confident that it can invest indefinitely at an interest rate of at least 4.8% a year.

How much does the Society need to endow its prize?

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