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You want to endow a scholarship that wa pay $11,000 per year forever, starting one year from now if the schoors endowment discount rate is

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You want to endow a scholarship that wa pay $11,000 per year forever, starting one year from now if the schoors endowment discount rate is 7%, what anount must you donate fo endow the scholarship? The amount you must donate is 5 (Round to the nearest cent)

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