A charitable organization is raising money to fund an animal shelter. The organization would like to donate

Question:

A charitable organization is raising money to fund an animal shelter. The organization would like to donate $2000 at the end of every month in perpetuity to help offset the shelter's operating costs. How much must be raised to fund the perpetuity if money can earn

a. 4.5% compounded monthly?

b. 6.5% compounded monthly?

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