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You decide to endow an annual business school party at DePaul beginning in three years. The party is expected to cost $1,200 at that time,

You decide to endow an annual business school party at DePaul beginning in three years. The party is expected to cost $1,200 at that time, growing at 3%. Interest rates are 7%. How much would you need to donate today to fund this? (8 pt.s)

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