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8 On November 24, 2001, a research fund of $87000 was established to provide for equal seminual grants for 7 years. What will be the

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On November 24, 2001, a research fund of $87000 was established to provide for equal seminual grants for 7 years. What will be the size of each grant if the fund earns interest at 10.16% compounded quartely and the first grant is awarded on November 24, 2008

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