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A successful alumnus wants to endow a chaired pro- fessorship. What amount must be deposited...

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Finance

A successful alumnus wants to endow a chaired pro- fessorship. What amount must be deposited today if the salary and support cost to the university starts at $200,000 a year from now? Assume the endowment earns 8% interest. (a) Assume the costs are level. (b) Assume the costs increase by $8000 per year. (c) Assume the costs increase by 3% per year.

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