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Amortization Question: A college plans to set up an endowment fund that will provide a scholarship of $3,000 at the end of every quarter, in

Amortization Question:

A college plans to set up an endowment fund that will provide a scholarship of $3,000 at the end of every quarter, in perpetuity. How much should the college invest in the fund, if the fund earns 4.25% compounded quarterly? (Round to the nearest cent)

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