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Camosun College has just received a donation of $120,000. The donor has stipulated that the funds should be used to fund an ongoing annual bursary

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Camosun College has just received a donation of $120,000. The donor has stipulated that the funds should be used to fund an ongoing annual bursary of $4,000 with the first payment given out in one year. What is the minimum amount of interest (j1) that the funds must earn in order to make the bursary work? Express your answer as a percent to 2 decimal places but don't include the % sign

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