Question: 2) Mary has decided to donate some funds to her university. She would like to fund an endowment that will provide a scholarship of $30,000

 2) Mary has decided to donate some funds to her university.

2) Mary has decided to donate some funds to her university. She would like to fund an endowment that will provide a scholarship of $30,000 each year in perpetuity, and also a special award, "Student of the Decade," each ten years (again, in perpetuity) in the amount of $90,000. How much money does Mary need to donate today, in one lump sum, to fund the endowment? Assume the fund will earn a return of 5% per year. (14 p.)

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