Business, 12.11.2019 21:31 jakobrobinette

You would like to establish a fund that will be used to offer a scholarship each year to a worthy student at your alma mater. you would like the total annual award to be $5,000, with the first award to be presented next year. your alma mater is able to invest the funds at a constant, annual, tax-free rate of 8%. how much must you donate today to fund this award? round your answer to the nearest dollar.

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