How much must you donate if the fund can earn 6% per year

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Question: Recognizing that you are a new millionaire, someone proposed you to donate a fund so that poor children might have a warm meal every day at school for ever. An estimate shows that they need $20,000 per year for that lunch at school. How much must you donate if the fund can earn 6% per year?

Reference no: EM133369178

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