A scholarship provider has $500,000 which she will invest today

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A scholarship provider has $500,000 which she will invest today

A scholarship provider has $500,000 which she will invest today to fund a scholarship forever. She expects to earn 8% on her money each year. If she wants to begin paying out the scholarship starting today, what will the annual scholarship payment be?$40,000.00$37,037.046,750,000.00$36,800.00