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What amount will grace have to donate today

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Reference no: EM133121392

Question - Grace would like to establish a $4000 annual scholarship at her old university. The university will manage the funds and expects to earn 7% per year on its investments.

1. What amount will grace have to donate today to ensure $4,000 is available is each indefinitely?

2. How much will she have to donate today if she wants the scholarship amount to increase by 3% each year in perpetuity?

Reference no: EM133121392

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