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A professional athlete has $16 million in earnings over their career. They have decided to invest the entire $16 million to fund scholarships that will
A professional athlete has $16 million in earnings over their career. They have decided to invest the entire $16 million to fund scholarships that will go on forever. The scholarships will be provided at the beginning of each year. They have decided to invest their funds for 2 years at 5% compounded quarterly and then establish the scholarship fund. What is the total amount of annual scholarships that could be provided, beginning in two years
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