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A group of concerned citizen has established a trust fund that pays 5% interest, compounded yearly, to preserve a historical building. The trust fund is
A group of concerned citizen has established a trust fund that pays 5% interest, compounded yearly, to preserve a historical building. The trust fund is to provide annual maintenance funds of $50,000 forever and funds for major maintenance every 10 years of $200,000 forever. Compute the capitalized equivalent amount for these building maintenance expenses (or how much need to be initially placed in the trust fund)
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