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What is the required endowment

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Question: A firm wants to sponsor a new engineering lab at a local university. This requires $2.5M to construct the lab, $1.2M to equip it, and $600,000 every 5 years for new equipment. What is the required endowment if the university will earn 6% interest on the funds? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132160333

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