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You would like to establish an endowment fund so that a needy student can purchase text- books. It is estimated that $2,000 per year is

You would like to establish an endowment fund so that a needy student can purchase text- books. It is estimated that $2,000 per year is the amount of cash flow the endowment needs to generate. How large of a check do you need to write? I = 5%

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