How much will Alysha have to donate

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Reference no: EM132834415

Problem - Alysha, a retired librarian, would like to donate some money to her alma mater to endow a $5,000 annual scholarship. The first scholarship will be awarded in 5 years. The university will manage the funds and expects to earn 4 percent per year. How much will Alysha have to donate so that the endowment fund never runs out?

Reference no: EM132834415

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