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You want to endow What award for a university now that will pay $7, 000...

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Finance

You want to endow What award for a university now that will pay

$7, 000 per year forever, starting the first award

10 years from now. If the school's endowment discount rate is 9 %

what amount must you donate today to endow the award?

Answer & Explanation Solved by verified expert
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