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You are head of the Schwartz Family Endowment for the Arts. You have decided to fund an arts school in Toronto in perpetuity. Every five
You are head of the Schwartz Family Endowment for the Arts. You have decided to fund an arts school in Toronto in perpetuity. Every five years, you will give the school $ million. The first payment will occur five years from today. If the interest rate is per year, what is the present value of your gift? Make sure to include a timeline. 
You are head of the Schwartz Family Endowment for the
Arts. You have decided to fund an arts school in Toronto in
perpetuity. Every five years, you will give the school $ million.
The first payment will occur five years from today. If the interest
rate is per year, what is the present value of your gift? Make
sure to include a timeline.
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