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How much money is needed to establish a scholarship fund paying scholarships of $2500 each half-year if the endowment can be invested at 9% compounded
How much money is needed to establish a scholarship fund paying scholarships of $2500 each half-year if the endowment can be invested at 9% compounded twice per year and the first scholarship will be provided:
a) 6 months from now
b) Immediately
c) 4 years from now.
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