Finance Help with Texas Instruments BAII: You want to endow a scholarship now that will pay $14,000

2 months ago
22

You want to endow a scholarship now that will pay $14,000 per year forever, starting the first award 10 years from now. If the school's endowment discount rate is 12%, what amount must you donate today to endow the scholarship?
The amount you must donate today to endow the scholarship is $ (Round to the nearest cent.)

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