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A wealthy citizen sets up a trust for scholarships at a local community college. The gift is for $3,500,000 and the money is to be

A wealthy citizen sets up a trust for scholarships at a local community college. The

gift is for $3,500,000 and the money is to be distributed at the beginning of each

year over the next 200 years. If the trust earns 5.25% compounded annually, how much

is available for scholarships each year?

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