You want to endow a scholarship that will pay $ 8 comma 000$8,000 per year​ forever, starting one year from now. If the​ school's endowment discount rate is 4 %4%​, what amount must you donate to endow the​ scholarship? How would your answer change if you endow it​ now, but it makes the first award to a student 10 years from​ today?

Q: 5%, what amount must you donate to endow the scholarship?

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