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A Kobe Bryant fan has decided to create a scholarship program, on behalf of Kobe...

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Finance

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A Kobe Bryant fan has decided to create a scholarship program, on behalf of Kobe and Gianna Bryant, that gives $10,000 to each of 9 students each year to pursue their basketball dream (total of $90,000 each year). The fan wants this scholarship to continue paying out forever. Assuming an inflation rate of 2% and annual interest rate of 8%, how much does this fan need to fund this scholarship today? Enter your answer without $ sign

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