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You have $300,000 to donate to your university. You want to endow a perpetual scholarship that makes its first payment in one year. If the
You have $300,000 to donate to your university. You want to endow a perpetual scholarship that makes its first payment in one year. If the university's discount rate is 6%, how large will be the annual scholarship payment?
The annual scholarship payment will be $...(Round to the nearest dollar.)
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