What is the amount that must be donated each year

Reference no: EM13213699

an alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, what is the amount that must be donated each year at i=8% per year to closest.

Reference no: EM13213699

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