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How much will Alysha have to donate

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Problem - Alysha, a retired librarian, would like to donate some money to her alma mater to endow a $6,000 annual scholarship. The ?rst scholarship will be awarded in 5 years. The university will manage the funds and expects to earn 3 percent per year. How much will Alysha have to donate so that the endowment fund never runs out?

Reference no: EM133039090

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