Question: #. A benefactor proposes to set up an endowment for student scholarship at the Business School. The proposal is to provide scholarship of $25,000 (at

#. A benefactor proposes to set up an endowment for student

#. A benefactor proposes to set up an endowment for student scholarship at the Business School. The proposal is to provide scholarship of $25,000 (at the end of) each year. Suppose the interest rate earned by endowments is 3%. (a) How much should the benefactor donate? (b) What if the proposal is to provide $25,000 plus a raise of 2% each year

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