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Clarissa wants to fund a growing perpetuity that will pay $6,000 per year to a...

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Finance

Clarissa wants to fund a growing perpetuity that will pay $6,000 per year to a local museum, starting next year. She wants the annual amount paid to the museum to grow by 4% per year. Given that the interest rate is 9%, how much does she need to fund this perpetuity?

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