An endowment fund is established by an art museum the fund, Business Economics

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An endowment fund is established by an art museum the fund

An endowment fund is established by an art museum. The fund earns 8% per year. The museum would like to use only the proceeds from the fund-none of the principal-for annual operating funds. The goal is to have the fund provide $40,000 per year. What is the required size of the fund?

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