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Norm Legend has been awarded a scholarship from Canmore College. For the next 4 years, he will receive $2,400 for tuition and books at the

image text in transcribed Norm Legend has been awarded a scholarship from Canmore College. For the next 4 years, he will receive $2,400 for tuition and books at the beginning of each quarter. How much (in \$) must the school set aside now in an account earning 7% interest compounded quarterly to pay Norm's scholarship? (Round your answer to the nearest cent.) $

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