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A new tennis court complex is planned. Each of two alternatives will last 18 years, and the interest rate is 7%. Use present worth analysis to determine which should be selec Contributed by D. P. Loucks, Cornell University 53 Granny Gums has established a scholarship at the Martin College of Dentistry. She will make deposits into an endowment account that pays 12% per year on the following schedule. If the first scholarship is to be awarded 1 year after the first deposit is made and thereafter the award will be given indefinitely, what is the scholarship amount