Donor established new scholarship

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Reference no: EM131070928

A donor established a new scholarship that will pay $2,000 every 6 months to a student. The scholarship will be awarded for the first time in December of 2016 (9 months from today). The donor decides that the scholarship should be provided in perpetuity. The anticipated APR is 6% per year on the invested funds, compounded monthly. What is the amount of the donation that must be given today to fully endow this scholarship?

Reference no: EM131070928

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