You are a millionaire and you wish endow a childrens, Financial Management

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You are a millionaire and you wish endow a childrens

You are a millionaire and you wish endow a children’s foundation with sufficient money to fund ongoing scholarships. The Children’s Scholarship Fund of Charlotte (CFC) asked you to partner with them and start up a scholarship fund with $500,000 disbursements. The fund will grow by 2% in perpetuity annually at an interest rate of 4%. How much do you need to initially invest into the CFC?

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