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You want to endow a scholarship that pays $30,000 per year forever, with the first scholarship award made 10 years from today. If the rate

image text in transcribed You want to endow a scholarship that pays $30,000 per year forever, with the first scholarship award made 10 years from today. If the rate of return on endowment earnings is 5%, how much would you have to donate today to endow the scholarship? The amount you would need to donate today is $. (Round to the nearest cent.)

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