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10. Hack' wants to get a good public appearance by establishing a scholarship fund for computer science. Considering you evaluate at 5% per year, compounded
10. Hack' wants to get a good public appearance by establishing a scholarship fund for computer science. Considering you evaluate at 5% per year, compounded annually for a trust, and you want to provide for 10 annual withdrawals that start at $6K and decrease by $500 each year. What is the difference between how much you gave out in scholarships vs how much you had in the account in the very beginning to start the scholarship trust? [So, you put in $X into an account and then in year 1 you take out $6K for the first scholarship, then $5.5K for the next one... on down to year 10. By year 10, you have given out $Y in scholarships in real money.]
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